Author Topic: Ticket Sales (Resale) as a Side Hustle  (Read 1500 times)

pstu24

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Ticket Sales (Resale) as a Side Hustle
« on: November 22, 2017, 08:12:19 AM »
I just wanted to see if anyone has had any success doing this. A friend of mine has apparently been trying this for the last few years and has been quite successful in the right opportunities...

For example, I live closest to Penn State and he is a Penn State Alum so that's where he got the idea. Tickets for next year are (roughly) $500 for the season, and you get 1 ticket to all 7 games. Not sure how many of you are in love with college football or not, but next year PSU will have Ohio State, Michigan State, and Wisconsin at home plus a few others. I only list those three because they are all pretty recognizable, and are all pretty consistently ranked as a top team in the nation.

PSU just had Pitt at home. Pitt is a bad team this year. They are 4-7 overall.... the individual tickets still went for over $300 per ticket.

Obviously there is some downside risk in this ... but it is very controlled (max loss is theoretically the 500 for ticket prices... but you can always sell them for SOMETHING...) and breakeven price is only about $70-$75 per game which is reasonable. If you get lucky, you could sell the three tickets I listed above for $200-$300 each, and then the other 4 games are all profit.

I don't think this is a get rich quick scheme, and I also think there is some risk in general. However, the risk is very minor AND you could potentially (very easily) bring in between 2 and 3 times revenue for a single ticket. $500 down for $1000 or $1500 back .... just imagine what buying 4 tickets or 6 tickets could yield...?

I just wanted to suggest. See who else has done this (any tips?), and also are there any other concerns I am missing?

THANKS!

J Boogie

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Re: Ticket Sales (Resale) as a Side Hustle
« Reply #1 on: November 22, 2017, 08:20:39 AM »
Well, though people are generally ok with arbitrage schemes on this board, they tend to view this arbitrage scheme as particularly scummy.

I share the same basic sentiment - I think there's a valid role ticket brokers theoretically could be playing in the marketplace, adding value by minimizing risk to venues, the way it plays out in reality is far different. Professionals are far better and more practiced than amateurs at getting hot tickets fast and they'll game any system to scoop up as many tickets as they can. This isn't a value add, so I don't support it.

But you didn't ask about my views on it, so I guess all I can do is share the tutorial I've shared in the past when asked about how to succeed as a ticket broker. Good luck!

https://www.youtube.com/watch?v=dQw4w9WgXcQ

GuitarStv

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Re: Ticket Sales (Resale) as a Side Hustle
« Reply #2 on: November 22, 2017, 08:24:09 AM »
Scalping tickets is a dick move for music venues.  I don't know the particulars for sporting events though.

SugarMountain

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Re: Ticket Sales (Resale) as a Side Hustle
« Reply #3 on: November 22, 2017, 08:42:41 AM »
I've done it some with tickets to my alma mater's football games.  The school has gotten smarter and now prices tickets for the bigger games at a higher price.  Not enough to call it a side hustle, particularly since you have to donate a few hundred bucks/year to even get a ticket application.  But, I have thought it might be fun to play the game at the local sporting events and concerts (basically be one of the guys who is both buying and selling at the games).  I do think the internet is killing this though, with e-tickets and PDFs.  People aren't going to trust your PDF printout, and with NFL Ticket Exchange (and similar for other events), it's easy for people to get rid of their extras.

 

Wow, a phone plan for fifteen bucks!