Independant Chip Model
Definition of independant chip model
You will hear about the independant chip model under the name ICM. Although we would need a book to talk about ICM in detail, here are some basics. ICM is a topic that is only covered in tournament poker (including sit'n'gos). ICM is calculated using your current chip count in a tournament, the total number of chips in play, the number of players remaining in the tournament, and the total cash prize money. The result of the ICM calculation will be a cash amount, which is the value assigned to your stack at a specific time. When another hand is played, the ICM will have changed.
A review of the independant chip model
The ICM is a good tool to determine the value of your mat at a specific time in a tournament or sit'n'go. For example, if there are 3 players left in a tournament and the 3 players are of equal strength, we can ask for an ICM calculation to find out the value of our stack. If all 3 players accept the proposed amount, the tournament will be stopped at that moment and the players will pocket the money that corresponds to the value of their stack. The main criticism of the ICM is that this method of calculation does not take into account the talent of the players. If two players have the same stack, their stacks will have the same value according to ICM, but in reality, the better player of the two will have a stack that should be worth more than his less qualified rival.