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The alternative that you're offered, 99% of the time, is a seat on the next flight.

Which is sort of workable if you are taking a direct flight to some location within the same continent and the next flight is in a couple of hours... If the next flight is the next day then that is pretty unacceptable.

Depends if they’re offering a hotel too. I’ve been voluntarily bumped more than once when I didn’t have anywhere I needed to be, and the compensation was definitely worth it

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