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ICM calculator Tournament chip stacks to prize money
Enter the chip stacks left in a tournament and the payouts still to come. The calculator gives each player's equity in the prize pool with the Malmuth–Harville model, next to what a plain chip-count split would give.
Questions
What is ICM?
The Independent Chip Model turns tournament chips into prize money. Chips are not worth the same: doubling your stack does not double your expected prize, because first place pays only so much. ICM puts a money value on each stack from the payouts that are left.
How does the Malmuth–Harville model work?
A player finishes first with probability equal to their share of the chips. Given who finished first, the next place goes the same way among the players left, and so on down the payouts. Each player's equity is the sum over all finishing orders. The page computes it exactly for up to 12 players.
What is it used for?
Deal-making at a final table, and decisions near the money and at final tables: a call that wins chips on average can still lose prize equity, because busting costs more than doubling up gains.
What does ICM leave out?
Skill, position and the blinds. Two players with the same stack get the same equity even if one of them is about to post the big blind or plays much better.
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