THE TICKET GAME: You have to 'play to win' cheap event tickets
LAS VEGAS (KSNV) —
What do former presidential advisor Sig Rogich and famed local defense attorney David Chesnoff have in common?
They are now partners in a brokerage, cashing in on the red-hot business of buying and reselling tickets here in Las Vegas for coveted seats at Golden Knights games, big fights, concerts, showrooms on the Strip and more.
The strategy is the same as the stock market. Buy low and sell high. But it doesn't always work out that way.
We take you inside the newest gamble in town, The Ticket Game.
It's game night in Las Vegas. Another sell out crowd at T-Mobile Arena. More than 17,000 fans. Many of them will be sitting in seats they did not buy from the Golden Knights.
You can probably bet the "great seat" holders know someone.
Fans who aren't lucky enough to be on the speed dial of a season ticket holder with an extra seat to sell, buy theirs on the open market where prices usually soar.
Many of those seats go through the hands of brokers who buy blocks of tickets hoping to sell them for a profit.
We were given rare access to the back rooms at Bravo Tickets, where they constantly track the changing prices for tens of thousands of seats at a time.
And not just for game night, but every night. They monitor tickets in showrooms and concert venues across town.
Like any gambler, sometimes they go all in with a losing hand.
The hit comes if they're stuck with tickets they can't sell by the time the puck drops or the curtain rises.
Bravo is one of five major brokers in town that buys and resells tickets. Unlike Flash Seats, StubHub and Vivid Seats, which handle the transactions between buyers and sellers but never own the actual tickets.
All the deal making means sellouts are bound to stretch that supply and demand thing and give fans serious sticker shock.
Every ticket comes with a price and a story.
It would be unfair to blame brokers alone for pushing prices higher. Fact is, they are just one player in the bull market for tickets along Las Vegas Boulevard. And just like Wall Street, a long list of investors get a cut when prices climb including the teams.
Something else that's different for this new breed of day traders: They're embraced by the teams and promoters. Bravo is now the official ticket broker for the WNBA Aces and the Mountain West Conference Championships.
At the end of the day, their main concern is to sell tickets -- they need to put butts in the seats.
Now that you see how this new market works, the best advice for fans is s to shop around and start early because prices can climb by the minute.