Once that limit has been reached, and entrants are being actively wait listed, we recommend you revise the Waitlist Limit downward, say from 50 to 35 or 40. This will let you delete entrants that have to drop out and override the wait list status for entrants currently wait listed. Otherwise when you delete a paid entrant, the waitlist will open up for the public, and let anyone jump in line in front of the wait listed entrants.
Step-by-Step: To override the waitlist status for an entrant --
> Click "Edit Event Entries"
> Click on the entrants name
> At the bottom of the next page, click the check box to "Override waitlist for this registrant "
> Click button to Modify this entrant.
> Notify the Entrant either through the email console, or directly to edit their registration form.