# ICM (Independent Chip Model) > Source: [ICM (Independent Chip Model) in the Smarter.Poker Glossary](https://smarter.poker/glossary/icm) ## Definition ICM, The Independent Chip Model, Converts Tournament Chip Stacks Into Shares Of The Remaining Prize Pool. Because Chips Lost Hurt More Than Chips Won Help Once Payouts Are Close, ICM Tells Players To Tighten Their Calling Ranges Near The Bubble And At Final Tables. It Is The Standard Tool For Tournament Deals And Late Stage Push And Fold Decisions. - **Category**: Math - **Term Code**: `icm` - **DefinedTermSet**: [Smarter.Poker Poker Glossary](https://smarter.poker/glossary) ## Related Poker Terms - [EV (Expected Value)](https://smarter.poker/glossary/expected-value) ([Markdown](https://smarter.poker/glossary/expected-value.md)): Expected Value, Or EV, Is The Average Result Of A Decision If It Could Be Repeated Many Times. Each Possible Outcome Is Multiplied By Its Probability And The Results Are Added Together. A Positive EV Play Earns Over Time Even When It Loses On A Given Hand, Which Is Why Good Players Judge Decisions By EV Rather Than Results. - [Effective Stack](https://smarter.poker/glossary/effective-stack) ([Markdown](https://smarter.poker/glossary/effective-stack.md)): The Effective Stack Is The Smaller Of The Stacks Between Two Players In A Hand, Because Nobody Can Win Or Lose More Than That Amount From The Other. If One Player Has 300 Chips And The Other 80, The Effective Stack Is 80. Strategy Depends On Effective Stacks, Not The Size Of Either Player's Own Stack. - [Variance](https://smarter.poker/glossary/variance) ([Markdown](https://smarter.poker/glossary/variance.md)): Variance Is The Spread Of Results Around A Player's Expected Value. High Variance Games Such As Tournaments And Pot Limit Omaha Produce Long Losing And Winning Stretches Even For Skilled Players. Understanding Variance Keeps Decisions Tied To Expected Value, And It Is Why A Large Sample Of Hands Is Needed Before Judging Any Strategy. - [Chip-Up](https://smarter.poker/glossary/chip-up) ([Markdown](https://smarter.poker/glossary/chip-up.md)): A Chip-Up, Also Called A Color Up, Is When A Tournament Removes Its Smallest Chip Denomination Once The Blinds No Longer Need It And Exchanges Those Chips For Larger Ones. Leftover Odd Chips Are Settled By A Chip Race, Dealing One Card Per Odd Chip, So A Player Can Never Be Eliminated By The Chip-Up Itself. ## Related Strategy Lessons - [ICM Basics: Chips Are Not Money](https://smarter.poker/learn/icm-basics) ([Markdown](https://smarter.poker/learn/icm-basics.md)): The Independent Chip Model Converts Tournament Chips Into Shares Of The Prize Pool, And It Shows That Chips Are Not Worth Their Face Value: With Half The Chips In Play And Three Players Left, A 50/30/20 Payout Gives The Chip Leader 38.39% Of The Prize Pool, Not 50%. - [Bubble Play In Poker Tournaments](https://smarter.poker/learn/bubble-play) ([Markdown](https://smarter.poker/learn/bubble-play.md)): On The Bubble, Calling An All In Needs Much More Than 50% Equity Because Busting Costs Your Whole Prize Equity: In The Worked Example Below A Player With 3000 Chips Needs 72.9% Equity To Call The Chip Leader's Shove. - [Final Table ICM Strategy](https://smarter.poker/learn/final-table-icm) ([Markdown](https://smarter.poker/learn/final-table-icm.md)): At A Final Table Every Pay Jump Turns Chips Into Money Unevenly: In The Six Handed Example Below The Chip Leader Holds 40% Of The Chips But 24.45% Of The Prize Money Left, And The Shortest Stack Holds 4% Of The Chips And 10.99% Of The Money. - [M Ratio And Short Stack Play](https://smarter.poker/learn/m-ratio-and-short-stacks) ([Markdown](https://smarter.poker/learn/m-ratio-and-short-stacks.md)): M Measures How Many Orbits A Stack Can Survive Without Playing A Hand: A Stack Of 12,000 With Blinds Of 400 And 800 And An 800 Big Blind Ante Has An M Of 6, Which Is 15 Big Blinds And Short Enough To Play Push Or Fold. - [Satellite Tournament Strategy](https://smarter.poker/learn/satellite-strategy) ([Markdown](https://smarter.poker/learn/satellite-strategy.md)): In A Satellite Every Seat Pays The Same, So Once You Have Enough Chips Extra Chips Are Worth Almost Nothing: In The Example Below The Chip Leader Already Has A 98.8% Chance Of A Seat And Would Need 78.6% Equity To Call An All In From The Third Stack. - [Bankroll Rules For Tournaments](https://smarter.poker/learn/tournament-bankroll) ([Markdown](https://smarter.poker/learn/tournament-bankroll.md)): A Common Guideline For Multi Table Tournaments Is To Keep At Least 100 Buy Ins, And More For Large Fields, Because Most Entries Finish Outside The Money And A Winning Player Can Go Hundreds Of Tournaments Without A Big Score. - [Bankroll Rules For Sit And Goes, Spins](https://smarter.poker/learn/sit-and-go-and-spin-bankroll) ([Markdown](https://smarter.poker/learn/sit-and-go-and-spin-bankroll.md)): A Common Guideline For Single Table Sit And Goes Is 50 To 100 Buy Ins, And For Lottery Style Spin Games With Random Prize Multipliers Many Players Keep 100 Or More, Because A Large Share Of The Prize Money Sits In Multipliers That Come Up Rarely. ## Practice On Smarter.Poker - [Multiway Poker Odds Calculator](https://smarter.poker/tools/poker-odds-calculator): Free Hold'em And Omaha Hand Versus Hand Equity Calculator. - [Tournament ICM Calculator](https://smarter.poker/tools/icm-calculator): Free Malmuth-Harville Final Table And Bubble Equity Calculator. - [Equity And ICM Calculators Guide](https://smarter.poker/features/poker-equity-calculators): Feature Specification For Multiway Equity And ICM Calculators. - [GTO Training](https://smarter.poker/hub/training): Scenario Based Poker Training, Free To Play. ## Compliance & Fair Play There Is No Real-Money Gambling On Smarter.Poker: Club Chips Are Play Credits With No Cash Value, And Diamonds Are A Promotional Rewards Currency.