Ticket resale

Ticket resale 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 itself 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 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).
In British English, one who resells tickets is often called a tout, and in American English, Canadian English, and Australian English, such a person is often called a scalper, and the practice is called scalping. However, these are colloquial terms used to refer to individuals selling tickets on the street or other nearby public places outside a venue or event. Established companies in the business of reselling tickets refer to themselves as ticket brokers. Registered businesses reselling tickets to popular events are bound by laws, such as local and state laws in the United States, and must operate within those laws to maintain their status as a legitimate business. Like the scalpers of old, however, there are no restrictions on how much ticket prices can be marked up.