The Juiced Guide To Ticket Reselling Terminology

The world of ticket reselling can be as exhilarating as the events you’re scoring tickets for. Whether you’re a seasoned pro or a newbie, understanding the terminology is crucial to navigating this dynamic market. This guide will walk you through the essential terms and phrases, helping you become a savvy player in the ticket reselling game.

Primary Market vs. Secondary Market

First things first, let’s distinguish between the ‘primary market’ and the ‘secondary market.’ The primary market is where tickets are sold for the first time, directly from the venue or an authorized retailer like Ticketmaster. In contrast, the secondary market is where tickets are resold, often at a price determined by demand. Think of platforms like StubHub or SeatGeek. As a reseller, you’ll primarily operate in the secondary market, but knowing where the tickets originate is vital.

Face Value

‘Face value’ refers to the original price of the ticket as set by the event organizer or venue. It’s essential to know this value as it often serves as a benchmark when pricing tickets for resale. Remember, the goal is to purchase at or below face value and sell for a profit.

Presale and Codes

Presales are events where a limited number of tickets are sold before the general sale. To access a presale, you often need a code, which can be obtained through fan clubs, credit card companies, or other affiliations. These tickets can be highly lucrative as they’re purchased directly before the general public rush. To stay on top of these releases, sign up to be notified when Juiced 2.0 launches, by clicking here.

Bots and Scripts

In the high-stakes world of ticket reselling, ‘bots’ and ‘scripts’ are tools used by some resellers to automate the buying process. They can rapidly purchase tickets as soon as they go on sale, often faster than a human can. However, be aware that using such tools is controversial and, in some cases, illegal. As such, be sure to do your research on the legality of such practices before you start. Reselling tickets in general is not always legal, so always check beforehand, the laws in your jurisdiction.

Holdback

‘Holdback’ refers to tickets that event organizers or venues keep from the initial sale. These can be released later as ticket drops or used for promotional purposes. Understanding the concept of holdbacks can help you predict the supply and demand dynamics for an event.

Dynamic Pricing

Many primary market sellers now use ‘dynamic pricing,’ a strategy where ticket prices fluctuate based on demand, much like airline tickets. This can impact your resale strategy, as buying at a peak price can limit your profit margin.

Fan-to-Fan Resale

Many ticket-selling platforms now offer ‘fan-to-fan resale’ options, allowing individuals to resell tickets within a controlled environment. This can be a safer alternative to direct selling but often comes with fees and price restrictions.

VIP and Platinum Tickets

These are premium tickets offering additional perks like meet-and-greets or prime seating. They are often high in demand and can be lucrative in resale, but they also come with a higher initial cost.

Allocation

Allocation refers to the number of tickets a promoter or venue has assigned to a specific sale channel or purpose. Knowing about allocations can help you gauge the availability and scarcity of tickets for an event.

CAPTCHA

A CAPTCHA is a type of challenge-response test used in computing to determine whether the user is human. In ticket selling, CAPTCHAs are often used during the checkout process to prevent bots from buying up tickets. Being quick and accurate in solving CAPTCHAs can be crucial in securing tickets for popular events.

Hard Tickets

Hard tickets are the traditional, physical tickets. They are often considered more collectable and can sometimes fetch a higher resale price, especially for special events or if they have unique artwork.

Soft Tickets

On the flip side, soft tickets refer to digital or electronic tickets. They are becoming increasingly popular due to their convenience and the reduced risk of loss or damage. However, transferring soft tickets can sometimes be more complex, depending on the platform’s policies.

Ticket Limits

Ticket limits are restrictions placed on the number of tickets one customer can purchase for an event. This is a measure to combat bulk buying by scalpers. As a reseller, it’s important to be aware of these limits to plan your purchasing strategy accordingly.

Season Tickets and Resale

Season tickets are tickets that grant access to all (or a set number) of home games for a sports team or a series of events at a venue. Reselling individual games or events from a season ticket can be a strategy for resellers, particularly for high-demand matchups or shows.

Venue Release

A venue release happens when a venue releases additional tickets, often close to the event date. These can be seats that were initially held back or released due to changes in the staging setup.