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WHY TICKET SCALPING IS OKAY! [Morality/Legality of Scalping Concert Tickets]

Click SUBSCRIBE for weekly content! Is ticket scalping really that bad? Popular opinion suggest ticket scalpers are some of the most greedy, evil people on the planet! However, I don't agree with this. Ticket resale (also known as ticket scalping or ticket touting) is the act of reselling tickets for admission to events. Tickets are bought from licensed sellers and are then sold for a price determined by the individual or company in possession of the tickets. Tickets sold through secondary sources may be sold for less or more than their face value depending on demand, which tends to vary as the event date approaches. When the supply of tickets for a given event available through authorized ticket sellers is depleted, the event is considered "sold out", generally increasing the market value for any tickets on offer through secondary sellers. Ticket resale is more common in sporting events and music events/concerts. Ticket resale is a form of arbitrage that arises when the amount demanded at the sale price exceeds the amount supplied (that is, when event organizers charge less than the equilibrium prices for the tickets). During the 19th century, the term scalper was applied to railroad ticket brokers who sold tickets for lower rates. Ticket resellers use several different means to secure premium and previously sold-out ticket inventories (potentially in large quantities) for events such as concerts or sporting events. Established resellers may operate within networks of ticket contacts, including season ticket holders, individual ticket resellers and ticket brokers. They make a business out of getting customers hard-to-find and previously sold-out tickets that are no longer available through the official box office. Ticket scalpers (or ticket touts in British English) work outside events, often showing up with unsold tickets from brokers' offices on a consignment basis or showing up without tickets and buying extra tickets from fans at or below face value on a speculative basis hoping to resell them at a profit. There are many full-time scalpers who are regulars at particular venues and may even have a pool of loyal buyers. Ticket brokers operate out of offices, and use the internet and phone call centers to conduct their business. They are different from scalpers since they offer a consumer facing storefront to return to if there is any problem with their transaction. The majority of transactions that occur are via credit card over the phone or internet. Some brokers host their own websites and interact directly with customers. These brokers are able to offer additional services such as hotel accommodation and airfare to events. Other brokers partner with online providers that run independent e-commerce sites. These sites act as portals that allow users to purchase tickets from a large network of brokers. Some brokers offer advice on the best way to buy tickets starting with the box office and working with a broker if tickets aren't available through the box office.[6] Online ticket brokering is the resale of tickets through a web-based ticket brokering service. Prices on ticket brokering websites are determined by demand, availability, and the ticket reseller. Tickets sold through an online ticket brokering service may or may not be authorized by the official seller. Generally, the majority of trading on ticket brokering websites concerns itself with tickets to live entertainment events whereby the primary officially licensed seller's supply has been exhausted and the event has been declared "sold-out". Critics of the industry compare the resale of tickets online to ‘ticket touting’, ‘scalping’ or a variety of other terms for the unofficial sale of tickets directly outside the venue of an event. The late 1990s and early 2000s saw the emergence of online ticket brokering as a lucrative business. U.S. corporate ticket reselling firm Ticketmaster developed a strong online presence and made several acquisitions to compete in the secondary markets. Securities analyst Joe Bonner, who tracks Ticketmaster's parent company New York-based IAC/InterActiveCorp, told USA Today: "You have to look at the secondary market as something that is a real threat to Ticketmaster. They missed the boat. StubHub has been around a few years now already. They weren't as proactive as they probably should have been."[7] Ticketmaster launched fan to fan secondary ticket reselling site TicketExchange in November 2005. Ticketmaster acquired former rivals GetMeIn and TicketsNow, while eBay bought StubHub. In 2008, the Boston Red Sox chose Ace Ticket over StubHub to sell their tickets.
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