I remember a lot of dead reckoning happening in the old Runescape, once upon a time. Many moments of your player running in a direction then getting rubber-banded back because they got interrupted or something.

What actually happens in Runescape is that certain animations override the running animation. When the animation then ends, the game compensates by making your character move much faster than usual, which can look like zipping all over the place. This is all client side of course; server side your character moves as normal.

Extreme example of someone using this in PVP: https://www.youtube.com/watch?v=kIFWSMW6Lzo

Dead reckoning is a bit harder when your game isn't using a perspective based camera (2D or orthographic). Otherwise you can use visual tricks to hide the rubber banding from a distance. Though when in 2D the solution is to interpolate between waypoints.