ICM

(Independent Chip Model)
tournaments

Converts tournament chip stacks to real-dollar equity.

Critical near the bubble and at final tables. Big stacks lose marginal value; short stacks gain it. ICM dictates wider folds for big stacks and wider calls for shorts.

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See also

Double Up
Winning an all-in to double your chip stack.
Freeroll
A tournament with no entry fee but real prizes.
MTT
A tournament played across many tables, players consolidating until one is left.
Short Stack
Having significantly fewer chips than the table average.