Table of Contents
Is ticket scalping illegal in the US?
United States These laws vary from state to state, and the majority of US states do not have laws in place to limit the value placed on the resale amount of event tickets or where and how these tickets should be sold.
Why isn’t there a scalping law?
Why isn’t more done to regulate or outright ban scalping? Groups opposed to anti-scalping regulation argue that the practice is like any other business venture in our capitalist and free-market economy, and that the market should dictate the prices at which coveted products are sold.
What’s wrong with scalping tickets?
Scalping is buying a product, typically in bulk, and reselling it for prices higher than the initial retail price. If enough individuals do this, it creates scarcity and any consumer interested in the product could now be paying much more than necessary while the scalper makes a profit.
What is the legal definition of scalping?
Scalping involves the buying and selling of the same contracts within a very short period of time on small market fluctuations, and sometimes, if the attempt to profit fails, buying and selling at the same price. [Reddy v.
Is scalping illegal in New York?
State law prohibits anyone, licensed or not, from reselling tickets in certain areas. No one can sell tickets within 1,500 feet of a large venue (5,000 or more people), or 500 feet of a smaller venue. Distributors of original tickets must register with the New York State Attorney General.
Why scalping is bad for the economy?
Economists’ Viewpoint. Scalping certainly results in some consumers paying higher prices than they otherwise would. Second, because of scalpers, the initial demand for tickets may be higher than it would otherwise be, enabling ticket producers to charge more.
Is StubHub a scalper?
Ticket scalping is the sale of tickets to a sporting event, concert or some other gathering for more than the face value of the ticket. It is illegal in Arkansas, and court decisions have applied the law to ticket brokers such as Ticketmaster and StubHub as well as street-corner scalpers.