In poker, an ICM chop is when two or more players agree to split the prize pool according to their chip count at the time of the deal, without playing any further hands. This is often done when the prize pool is large and the players are short on chips, so that everyone can still walk away with a decent profit.
The term “ICM” stands for “Independent Chip Model”. It’s a way of valuing your chips in a tournament situation, taking into account the size of the prize pool and the number of chips each player has.
For example, let’s say there’s a $100 tournament with 10 players. The prize pool is $1,000, so first place will get $500 and second place will get $300.
Player A has 1,000 chips (10% of the total chips in play), Player B has 2,000 chips (20%), Player C has 3,000 chips (30%), and so on. If everyone played until only two players remained, then:
– Player A would have a 10% chance of winning first place ($500), a 20% chance of winning second place ($300), and a 70% chance of finishing in third place or worse ($0).
– Player B would have a 20% chance of winning first place ($500), a 40% chance of winning second place ($300), and a 40% chance of finishing in third place or worse ($0).
PRO TIP:An ICM Chop in Poker is when two or more players agree to end a tournament and divide the prize pool according to their chip stack at the time of the chop. This can be advantageous in certain situations as it guarantees each player a minimum payout, and reduces variance in the game.
– Player C would have a 30% chance of winning first place ($500), a 60% chance of winning second place ($300), and a 10% chance of finishing in third place or worse ($0). .
An ICM chop would give each player their expected value (EV) from the tournament. In this case:
– Player A would get $350 (10% x $500 + 20% x $300 + 70% x $0).
– Player B would get $400 (20% x $500 + 40% x $300 + 40% x $0).
– Player C would get $450 (30% x $500 + 60% x $300 + 10% x $0). .
The ICM chop is advantageous for all three players because it guarantees them each a profit, even though Player C was in the best position to win the tournament outright. It also means that they don’t have to risk their chips in any further hands, which could lead to them losing everything.
If you’re ever in a situation where an ICM chop is offered, it’s generally advisable to take it. The only time you might not want to is if you have a very good chance of winning the tournament outright – but even then, it’s often better to take the guaranteed profit and run.
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