Why do waitlisted tickets exist? The Indian Railways' ticketing secret revealed

Understanding Waitlist Tickets Reasons for Waitlist Tickets Benefits of Waitlisting Train Cancellations and Waitlists Waitlist Ticket Rules

Millions travel daily on Indian Railways. Especially during festivals and holidays, train tickets become scarce. In such situations, the railway offers waitlist tickets. But you can't board the train with them. So why does the railway issue them?