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I really think I've heard it in some American sitcom/sitcoms, meaning something like participating in. "I want to play football. Who's in?" — "Great idea, I'm in!" Does it really exist, or am I wrong? I've tried to search for it, without any result.

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"You're either in or you're out. Right now." Ocean's Eleven. –  RegDwigнt Aug 23 '11 at 21:38
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The phrase "Who's in?" does exist in very informal English, at least in American English. It is equivalent to saying "Who wants to participate in X with me?" It is not used very often, at least in my experience. However, people will understand what it means if you say it in conversation. For example, if you wanted to get food:

I'm feeling hungry, so I'm going to order pizza. Who's in?

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I wouldn't say it's "not used very often", even if I don't hear it very often. The key question there is "Does it sound odd when someone says it?". To which my answer is "Not at all". I think it's slightly less egocentric than the related "Who's with me?", in that it suggests there's already a group inviting supporters, rather than just a single "rabble-rouser". –  FumbleFingers Aug 23 '11 at 21:35
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Yes, these phrases exist.

Also "I'm out" for declining.

"I'm in and (more often) "I'm out" are used a lot in the British television programme Dragon's Den where, after hearing a pitch, investors decide whether they wish to invest or not.

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"I'm in" is an alternate form of "count me in" which means "include me". This is similar to the poker phrase "deal me in", but I don't know which came first or if one was derived from the other.

Similarly, "I'm out" is an alternate form of "count me out" which means "exclude me". On a related note Dictionary.com says that "count out" is also a boxing term referring to when a boxer loses because he has been knocked down and can't get up before the referee finishes a 10-second count. I would guess that the boxing term was developed independantly of the "exclude me" meaning.

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I'm pretty sure they are poker terms adapted to other situations. Not sure where I'd go to prove it though. –  T.E.D. Aug 24 '11 at 13:21
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