New Game for Resale Tickets for Fans is being brought by Upstarts

Two new companies are hoping to change the way you buy sports tickets as prices on the secondary market soar.

While ShooWin offers options to ensure the most loyal fans aren’t priced out when it comes playoff time, GameHedge is guaranteeing you a good game.

The current state of the ticket market has to be looked into to understand this. A market where tickets to the most sought-after games are sometimes double and even more than triple than the face value of the ticket, is the secondary market which is based on a model of supply and demand. The ticket resale market has grown to $7 billion to $8 billion industry, according to Northcoast Research.

Hundreds, even thousands are being shelled out by fans to see top games. For example, according to secondary sites TiqIQ and StubHub ,  to see the Golden State Warriors vs. Cleveland Cavs in the NBA Finals, the average ticket price on the secondary market the fans are ready to shell out are averaging $862 to more than $1,100.

“The secondary market is pretty dynamic. It creates a situation where a single person isn’t going to go to a lot of games,” said John Healy, a senior analyst at Northcoast.

The good game guarantee

A ticket marketplace, to give something back to the fans and to solve the problem, has been created by GameHedge. A “Good Game Guarantee,” a 50 percent refund if the home team loses by five runs or more in baseball, comes with each ticket purchased on the site.

50 percent is returned to their credit card and fans simply have to log back into the GameHedge site.

They will stand behind you even if your team didn’t perform the way you hoped.

“I went to a Mets game a couple of weeks ago, by the top of the third, the Mets were losing 9-1. I spent $400 on a game and everyone leaves with their head down. This just doesn’t make sense,” said Warren Friss, founder of GameHedge.

Starting with Major League Baseball tickets, GameHedge launched this week and it plans to offer NFL tickets by August, and NBA and NHL tickets by September.

All GameHedge tickets are bought through a ticket exchange or third parties that  helps the site make money.

“Our markup is very consistent with what StubHub’s markup is,” Friss added.

Once playoff time comes, ShooWin is making sure fans don’t get priced out.

Brisa Trinchero, a Tony Award winning producer and early investor in “Hamilton” is the founder and the CEO of the site. Trinchero is suing the IP to build a consumer brand after acquiring it from Forward Market Media.

As fans shelled out hundreds of dollars to see Broadway’s hottest show, as a Broadway producer, Trinchero saw firsthand how tickets prices soared.

“Hamilton is one of the many events that real fans aren’t able to go to. You look at who is sitting in the seats and it’s expense accounts and corporate clients. It’s the same thing with the Super Bowl. When was the last time you saw a family at the Super Bowl?” she asks.

Making it affordable for fans to see their favorite teams in person for their biggest games is the aim of ShooWin.

“It’s definitely disruptive,” said Dan Mannix, LeadDog Marketing CEO. He however says that whether GameHedge and ShooWin can scale their businesses and get access to enough tickets is the big question.

(Adapted from CNBC)

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