Tournaments
ICM (Independent Chip Model) in poker
Definition
A model that converts chip stacks in a tournament into real-money equity based on the prize structure.
In a tournament chips are not worth a fixed amount of money: doubling your stack does not double your prize. Because of this, losing a stack costs more than winning one gains, and it makes you fold hands that would be calls in a cash game.
ICM matters most near the bubble, at final tables and in satellites. A bubble factor measures how much tighter you should play.
Related terms
- BubbleThe stage just before the prize money starts, when one more elimination puts everyone left in the money.
- Final tableThe last table of a tournament, with the remaining players, usually between six and nine.
- SatelliteA tournament whose prizes are seats (entries) in a bigger tournament instead of cash.
- Push or foldA strategy for short stacks in which every hand is either shoved all-in or folded, with no calls or small raises.