Ticket scalping is a practice wherein an individual buys a ticket for an event and resells it later at a higher price in order to earn profit. This practice is therefore also known as ticket resale. This is however very different from buying ticket from a ticket broker. A broker buys tickets in bulk and sells it to the visitor, whether or not there is any demand for the event. However, in case of ticket scalping, the seller usually sells it when the tickets high-demand events like a sport event or a movie is sold out. Since they are usually available near the venue, you can take the risk of going to the venue without buying the ticket in advance and take it from these resellers at two or three times the rate.
Although the profit for a scalper is high, this business involves lots of risks. First, this is not a legal business. Hence, if you are caught red handed reselling the ticket at a higher rate, you would either have to pay fine or be imprisoned or both. Besides, a scalper needs to have the ability to judge the market well. Sometimes the scalper buys several tickets for an event, which suddenly goes out of demand. In such cases, the scalper has to either sell the tickets at the same rate or even at a loss. Besides, the official ticket seller identifies such scalpers quickly. Hence, they don’t handover tickets to such scalpers. So, these resellers ask teens to buy tickets for scalpers.
This kind of resale is not illegal in all the places. Since ticket scalping is not much different than any other investment, where you buy at low price and sell when the demand is high at higher price, it is legalized in several places. Besides, people who come to attend the event are usually ready to pay more and get the tickets. But legal or not, you will find such scalpers at all event venues during major events.
However, there is another bunch of scalpers that do not intend to do it as business, but involve in this activity accidently. Many people buy tickets for their friends for the event. However, sometimes, when their friends cancel on them, they try to resell the tickets, sometimes at higher prices when the demand is high. But before you involve in such activity, accidently or otherwise, check whether it is legal in your area to sell tickets for profit.
Although this business started at a small scale, it has now become quite large and even organized in some places. Many groups of scalpers buy tickets of major events like Olympics and world cup much before the event. For such events, the demand is usually high, and availing ticket at the last hour is usually difficult. Scalpers take advantage of this situation and sell tickets at a very high price to earn a healthy profit.