The government wants to cap resales at just 10% above the original price.
If passed, the Fair Trading Act would cap resale prices in the state to a maximum of 10% above the original sale price, reducing the amount of profit that people or companies can make off reselling tickets. "I'm sick and tired of consumers being taken for a ride by shonky operators looking to make a quick buck at the expense of ordinary fans," said NSW minister Matthew Kean.
As The Guardian reports, the new law would also crackdown on bots that automatically scoop up tickets and punish advertisers who infringe on the resale laws.
Earlier this year, the UK government announced regulations to crack down on scalpers and bots.
Resident Advisor has its own ticket resale service, established in 2014 to provide a fairer system for promoters and customers. Our 100% verified fan-to-fan marketplace ensures fans only ever buy and sell tickets at face-value.