|Ticket Reserve Inc., a Chicago-based company has unveiled a service, which offers sports fans, the chance to reserve tickets to sporting events by wagering on a team's success.|
‘Ticket Reserve gives people fair and equal access to tickets. Our ticket prices are not artificially set like those of scalpers,’ says company co-founder Herbert Rudoy.
TicketReserve.com is essentially an online exchange that operates like say the Chicago futures market. Rudoy explains that any fan that visits www.ticketreserve.com can buy as many as four ticket certificates for any NCAA team. Each certificate can be used to buy one ticket at face value to either a semifinal game or the final game -- but only if that team advances far enough. If the team doesn't advance, the certificate is rendered worthless.
Each team has a limit of 12 certificates for the semifinal round and 24 for the championship game. Opening prices for certificates range from $25 to $50. Fans can resell the certificates, which fluctuate in value as teams rise or fall in the rankings, with the company collecting a 5 percent transfer fee from both buyers and sellers.
‘About 800 people participated in the company's Super Bowl program; 4,000 fans for the NCAA Men's Basketball tournament,’ says Rick Harmon, chairman, CEO and co-founder of Ticket Reserve. However, women’s sports enthusiasts will be disappointed, as the company does not sell any certificates for women's events.
The company, positions itself as ‘global forward market for all live events,’ said that by next year a number of other athletic events, including women's sports tournaments, will be introduced. Ticketreserve.com is currently auctioning certificates for the Indianapolis 500 in May.