What is the ICM model and why is it used?
In this article, we will discuss what the independent chip model (ICM) is. This model is used only in poker games that have a prize pool, such as multi-table tournaments (MTTs) or Sit&Go tournaments. The next logical question would be, why is it needed? For example, when playing cash games, evaluating the value of chips is very easy. If you are playing a $1/$1 blind cash game, it is clear that one chip is worth $1. But how much is one chip worth if you are playing a Sit&Go with a $10 buy-in, starting with 50 chips (we'll reduce the number to make it easier to calculate), and there are 10 participants, with payouts of $50, $30, and $20? At the beginning of the tournament, it would be logical that one chip is worth $0.20, and each person has a stack of chips worth $10. However, how do these numbers change, for example, when there are 4 players left and the chips are distributed as follows: player A.200, B.130, C.100, D.70? Do the chips still maintain their $0.20 value? No, and this is for several reasons. First of all, even the player who wins this tournament does not get all the money, so theoretically it is impossible for the chip value to remain the same as at the beginning of the game. In this case, we get that the chip stack values are A.$33.21, B.$26.77, C.$22.76, D.$17.24. Also, we should not forget the fact that in the given example, we have the money bubble phase, so even the person with the fewest chips has a chance to get into the money without playing a hand and increase the value of their tournament chips without gaining more chips. For example, if player B wins player C's chips, the chip counts become A.200, B.230, C.70, and the values are A.$36.05, B.$37.61, C.$26.32. For this reason, the ICM model becomes even more complex. These numbers are obtained using the http://www.icmpoker.com/icmcalculator/ calculator, as calculating manually would be very complicated and time-consuming. If you want to experiment with how chip values change depending on payouts and quantities, you can try entering your own numbers into the program at the provided link and see for yourself.
Where is the ICM model used?
1. It is used for dividing the prize pool, but it is important to remember that when using the ICM model to divide money, it ignores factors such as edge over other players, position (the ICM model will ignore if the short stack will be in the big blind position in the next hand and will be auto-all-in, and similar facts).
2. It is used to calculate shove/call situations where we are no longer playing chip EV+, but considering the ICM factor. When money jumps (payout jumps) or the tournament bubble phase begins, it is not enough to make decisions that are only chip EV+ in the long run. Programs like ICM'izer help us with these calculations.
3. Often during the bubble phase or when money jumps begin, many better players use ICM pressure, playing wider and more aggressively to pressure other players, as they theoretically have to play tighter due to the ICM factor. This is especially true during the money bubble phase and the final table bubble phase.
You can learn more about the ICM factor by watching this video – http://pokeriomokykla.com/video-pamokos/icm-faktorius-kas-tai-ir-ka-su-juo-daryti.
