Free ICM calculator

What is ICM?

ICM (Independent Chip Model) is a mathematical model that turns tournament chips into money. In a cash game every chip is worth the same. In a tournament it isn't: prizes are paid by finishing place, and whoever busts only takes what they have already locked up. That is why doubling your chips does not double your money: the chips you win are worth less than the chips you lose.

The bubble example

In the ready-made example — a money bubble with 4 players left and 3 places paid (50%, 30% and 20% of a 1,000 prize pool) — the chip leader has 4,000 chips, twice as many as each opponent (2,000 each). The leader has 40% of the chips but is worth 33% of the money: $ICM of 330.00 against 223.33 for each opponent. Having twice as many chips makes the leader worth only 1.48 times as much as each opponent. The three short stacks have 20% of the chips each and are worth 22.33% of the prize money: they gain value under ICM.

Why ICM matters on the bubble and at the final table

• From the bubble on, every elimination raises the guaranteed prize of everyone still in. Losing an all-in costs more than winning the same all-in gains.
• So, to call an all-in on the bubble you need a stronger hand than a chips-only count would suggest.
• Big stacks can apply more pressure; medium stacks usually feel the pressure most when facing the chip leader, because they have a lot to lose.
• Far from the money, with many players left, the effect is small. It grows as you get close to the money and at the final table.

How the calculation works

The calculator uses the Malmuth-Harville model, the classic ICM model: each player's chance of finishing 1st is proportional to their chips. For 2nd place, the same calculation is repeated among the players left, and so on. Every possible finishing order is added up exactly (no simulation), and the result is instant, even with 10 players.

Limits of the model

ICM is a model, not the absolute truth: it only looks at chips and payouts. It doesn't know who plays better, who is in the blinds next hand or how big the blinds are. Use it to understand payout pressure and to study bubble and final-table decisions before and after you play. A study tool: never use it during a game.

How to use it

1. Enter the chips of every player still in the tournament.
2. Enter the prizes still in play, from 1st place down, as amounts or percentages (with the total prize pool, if you want $ICM in money).
3. Compare the % chips column with % prize: the difference shows who gains and who loses value under ICM.