Calculate Independent Chip Model equity for tournament situations. See the real dollar value of your chip stack based on payout structure.
ICM converts each remaining tournament stack into a share of the prize pool. Enter every stack, the prize pool, and the payout for each finishing place. The calculator estimates how often each player reaches each prize, then compares that dollar equity with simple chip share.
This example uses 12,000 chips, a $1,000 prize pool, and payouts of $500, $300, and $200. ICM redistributes value without changing the $1,000 total.
| Player | Stack | Chip share | Chip-share value | ICM equity | Difference |
|---|---|---|---|---|---|
| Player 1 | 6,000 | 50.0% | $500.00 | $385.00 | -$115.00 |
| Player 2 | 4,000 | 33.3% | $333.33 | $340.00 | +$6.67 |
| Player 3 | 2,000 | 16.7% | $166.67 | $275.00 | +$108.33 |
The model values the current stack and payout snapshot. It does not decide whether a particular shove, call, or fold is correct.
| Input or factor | Used by this calculator? | Why it matters |
|---|---|---|
| Every remaining stack | Yes | Stack proportions set each player's finish probabilities. |
| Every remaining payout | Yes | Pay jumps determine the dollar value of each possible finish. |
| Player skill | No | ICM treats equal chips as equal chances, regardless of skill. |
| Blinds, position, and ranges | No | Those inputs belong in a separate push-fold or hand analysis. |
Tournament chips are not cash. Doubling a stack does not double its dollar value because a player can win only one first-place prize, while every surviving stack still has some chance of finishing in the money. ICM handles that mismatch by estimating a probability for each possible finishing place and multiplying it by the payout for that place.
The stack list has to describe one complete tournament snapshot. Include every player still in the event and use the same chip unit for everyone. The payout percentages should also describe the remaining prize pool and add to 100%. If the event has already paid a min-cash, enter only the money that remains available to the players in the calculation.
The worked example shows the usual ICM effect. Player 1 owns half the chips but has $385 of the $1,000 prize pool, not $500. Players 2 and 3 gain relative value because their stacks preserve a chance to collect second- and third-place money. The result is not a penalty for leading. It is the value of prize protection across all possible finishes.
Use the output as a dollar-equity baseline near a bubble, a final table, or an ICM deal discussion. A hand-level choice still needs ranges, blinds, positions, future blind pressure, and the chance that opponents make mistakes. This calculator does not produce push-fold ranges, and it should not turn a close strategic spot into an automatic decision.
The calculation uses the Malmuth-Harville approach. It treats each player's chance of taking the next place as proportional to that player's share of the chips still in play, removes that player, and repeats for the next payout. The process continues through every entered place, so the player equities add back to the entered prize pool apart from rounding.
The Independent Chip Model estimates the dollar value of tournament stacks from the remaining chip counts and payouts. It is used because tournament chips do not convert to cash at a fixed rate.
For each finishing place, the model treats a player's chance of taking that place as proportional to the player's share of chips among the stacks still eligible. It multiplies each finish probability by that payout and adds the results.
The chip leader cannot collect more than first place, while shorter stacks still have a chance to win every remaining prize. Extra chips therefore have diminishing dollar value in a tournament.
Yes. It calculates every entered payout for 2-10 remaining players. The entered payout percentages should add to 100% so the resulting equities reconcile with the prize pool.
The result is a useful neutral starting point for an ICM chop. Players may still negotiate because the model does not account for skill, seat position, blind pressure, or a required amount left for the winner.
No. ICM supplies the value of the current stack distribution. A shove or call also needs hand ranges, blinds, antes, positions, and the stack distribution after each possible outcome.
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| Player | Chips | Chip % | Chip Equity | ICM Equity ($) | ICM Equity (%) | Difference |
|---|---|---|---|---|---|---|
| Player 1Chip Leader | 6,000 | 50.00% | $500.00 | $385.00 | 38.50% | -$115.00 |
| Player 2 | 4,000 | 33.33% | $333.33 | $340.00 | 34.00% | +$6.67 |
| Player 3Short Stack | 2,000 | 16.67% | $166.67 | $275.00 | 27.50% | +$108.33 |
Chip leader discount: The chip leader's ICM equity is lower than their chip equity. Big stacks are worth less per chip than small stacks in ICM because doubling your stack does not double your equity.
Short stack protection: Short stacks have higher ICM equity than their chip share suggests. Even a small stack guarantees some probability of laddering up into a prize spot.
Result matched offer
Player 1's 6,000 chips (50% of the chips in play) are worth $385 of the $1,000 prize pool with 3 players remaining. CoinPoker's listed 15% rakeback is separate from tournament equity and does not change these finish probabilities.
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Apply this ICM spot at CoinPokerThe Independent Chip Model (ICM) converts tournament chip stacks into real-money equity based on the payout structure. Unlike cash games where every chip is worth the same dollar amount, tournament chips have a non-linear relationship to prize money.
Why chip equity does not equal dollar equity: In a tournament, the first chip you lose is worth more than the last chip you gain. If you have half the chips in play, your ICM equity is usually less than half the remaining prize pool because the other stacks retain claims on the lower payouts. The chip leader's chips are worth less per unit than average because accumulating more chips has diminishing returns.
When ICM matters most: ICM pressure is highest on the bubble (the last spot before the money), at final tables with significant pay jumps, and in satellite tournaments where multiple players win the same prize. In these spots, survival is worth more than chip accumulation, and correct ICM play often means folding hands that would be profitable in a chip-EV vacuum.
Note: This calculator uses the Malmuth-Harville model across every entered payout. Real-world tournament decisions can still differ because ICM does not model skill edges, future blind pressure, position, or opponent tendencies.
