Free poker calculators
ICM calculator: tournament prize equity from chip stacks
In a tournament, chips are not money: the more you have, the less each extra chip is worth. Enter the stacks and the prizes to see each player's share of the prize pool by the Independent Chip Model (ICM).
Working it out
Example: four players are left and three are paid 50, 30 and 20. The leader has 4,000 of the 10,000 chips, 40%, but 33.6 of the 100 in prizes; the short stack has 10% of the chips and 13.3% of the prizes. Chips the leader loses cost more prize money than the same chips won would add.
Formula
Chance to finish first = stack ÷ all chips. Chance to finish second after player j wins = stack ÷ (all chips − j's stack), and so on for each place. ICM equity = the sum over places of the chance to finish there × that place's prize.
ICM looks only at stacks and prizes. It ignores skill, position and the blinds to come, so it can understate a big stack that is able to put pressure on the others.
Compare common situations
- Chip stacks (2 to 9, separated by spaces)
- 2,500 / 2,500 / 2,500 / 2,500
- Prizes, from first place down
- 50 / 30 / 20
- First stack's share of the prizes
- 25.0%
- Chip stacks (2 to 9, separated by spaces)
- 9,000 / 500 / 500
- Prizes, from first place down
- 50 / 30 / 20
- First stack's share of the prizes
- 47.9%
- Chip stacks (2 to 9, separated by spaces)
- 6,000 / 3,000 / 1,000
- Prizes, from first place down
- 65 / 35
- First stack's share of the prizes
- 50.3%
Common questions
Why is my prize equity less than my share of the chips?
Because no one can win more than first prize. With 9,000 of 10,000 chips against two stacks of 500, paid 50/30/20, you hold 47.9% of the prizes, not 90%.
How does ICM change my calls?
Busting costs more prize money than doubling up gains, so calling an all-in needs more equity than the chip odds say, most of all near the money. The tournaments lesson works through such calls.