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Re:Southwest to Stop Overbooking as United Uproar Echoes by dx034 on Friday April 28, 2017 @11:00AM (#14219888)
According to the article, 4% of planes are overbooked. And if they are, <5 will usually be re-booked. Which is a low single-digit percentage of passengers. So your chance of being denied boarding is probably <0.1%. Wouldn't say that all tickets are standbye.

It's rather that thanks to the internet we know of stories like these. 10 years ago no one would've known.

Re:Southwest to Stop Overbooking as United Uproar Echoes by SilasX on Friday April 28, 2017 @11:44AM (#14220363)
I say that you're "effectively on standby" when there's a potential for the overbooking to keep you off the plane, which is the kind of risk that should be made explicit.