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It's pretty rare. I've traveled a bunch for work and had only seen it once. Most of the time the airlines offer good enough incentives to get passengers to voluntarily give up their seat.
I think you should check in early and immediately let the gate agent know you’re willing to give up your seat if they are oversold. We’ve done this and they have taken our ticket, along with a few others that requested the same thing. They put the tickets in order on who approached them first.
I would think that you'd probably have a better chance getting bumped at Dulles as well. Most people try to avoid Reagan if at all possible.
I've also been bumped at Dulles and put in a cab to DCA before, back in the late 80's. One of the advantages of having two major airports so close to each other.
How does it work on AA? Some frequent flyers would play the game of trying to identify flight prone to be overbooked in order to get the generous coupons that the airlines would issue for bumping - essentially winning a free flight.
Now Delta is beating us at our game, accepting "bids" for overbooked flights when you check in by having a box you check saying "we are looking for volunteers - select what amount you will accept for bumping - $50, $100, $200, $300, $500". When they bump someone, guess who they will select.
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