This is one of the questions that every person who is booking WL tickets for the first time tends to ask himself. As a matter of fact, the confirmation status is being first awarded to the RAC ticket holders before the WL ticket holders. So is it worth sending money in purchasing a WL ticket?
What happens when WL ticket is not confirmed?
In the event when your WL ticket have failed to move into the confirm reservation list even when the reservation chart is being prepared then Indian Railways will refine your money back to you. If you have booked the ticket over the reservation counter then cash money will be refunded back to you. In case if you have booked the WL ticket online then Indian Railways will refund the ticket money back to your bank account
Reason for refunding
The fact that your WL ticket has not confirmed means that you will never be able to board the your specified train. Since you are no using the service of the Indian Railways your money will be refunded back to you in due course.
The same is not true for the RAC tickets. In RAC tickets even your tickets are not confirmed you can still board your specified train. As such there is no question of refunding your ticket money back to you.
Many a times a lot of waitlist shuffling takes place in the last day itself. So even if your WL position is long behind the other WL positions you can still end up in moving into the confirm reservation list.