DENVER — When Madonna announced her 40th anniversary world tour this year, ticket prices on numerous reselling websites quickly climbed into the thousands of dollars — though the original tickets had not yet gone on sale.
This is a common practice in the event ticket industry known as “speculative ticketing,” in which companies resell tickets they do not yet own and customers are often not guaranteed to receive the tickets they purchase.
In Colorado, speculative ticketing and other ticket sale practices could soon be prohibited and classified as “deceptive trade practices” under Senate Bill 60.
The Colorado legislature passed the bill last week, sending it to Gov. Jared Polis for final consideration.
> Video below: Bill would protect Colorado concertgoers from price gouging:
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