Waiting list experiences

[Shereen]

I have applied to an M.Sc program that is being offered by only two institutions. I had an interview with one of them a month ago and after receiving no feedback I sent an email to inquire about my status. The program’s director told me that I have been placed on their waiting list and that I will be informed immediately if a change was made. 
I am at a loss here and don’t know what expect. Should I keep my hopes up? Do people actually get in from a waiting list? It seems like a way to soften the rejection’s blow. 
Has anyone been admitted from a waiting list? 

Edited May 12, 2020 by Shereen
Grammar correction

[feralgrad]

Getting in off the waitlist is pretty common in my field. That said, this late in the season I wouldn't count on it. There's a chance you'll get in, but you'll want to work on a plan B.