I recently heard about Yoonew, a company that essentially runs an open market for sporting
event tickets.
How Yoonew Works
At Yoonew, fans can bet that their team will make it to the championship game. (i.e. the Super Bowl, Final Four, World Series, etc.).
If the team that the fan bets on make it to the championship, the fan receives a ticket (or many tickets, depending on the bet) to that sporting event for the price that they locked in earlier in the season. If the team doesn’t make it, the fan loses the initial amount.
Yoonew uses the losers’ money to purchase tickets for winning bidders –and brings in revenue through transaction fees.
The company claims they’ve never failed to deliver a ticket to a winning bidder.
Why Yoonew is interesting
Yoonew allows fanatics with extra cash (and a knack for gambling) the opportunity to get tickets for well under face value.
With Super Bowl XLII this week, and tickets reselling for $4,300 on average, Yoonew seems to have found a niche that will certainly be around for a while.
More on Yoonew
Read more about Yoonew at TechCrunch, The Boston Herald and Fast Company.
