ICM
The Independent Chip Model, which converts tournament stacks into shares of the prize pool.
Last updated
- What it means
- In a tournament, chips you win are worth less than chips you lose, because busting ends your chance at every payout. ICM puts a money value on each stack.
- How it is calculated
- Each player's chance of finishing first is their share of the chips. Remove the winner and repeat for second place, and so on. Then weight each finishing position by its payout.
- Worked example
- Three players have 5,000, 3,000 and 2,000 chips, and the payouts are 50, 30 and 20. The short stack holds 20% of the chips but has an ICM equity of about 28.9, or 29% of the prize pool.
- Why it matters
- ICM is why calling ranges tighten on the bubble: the risk of busting costs more than the chips you might win.
Try it: Push/fold calculator, Poker math, ICM calculator, Chip chop calculator, Push/fold solver
Formula and worked example: The independent chip model in poker math
Lessons that teach it: What a tournament stack is worth, Why a bubble call needs more than its price, The same all-in risks different amounts · lessons other than the free one need an invite