While in cash games one's aim is winning as much chips as possible, on tournaments chips are not considered as an aim, but a tool for reaching the better place possible. ICM calculation shows the expected win amount at a given chipcount. >>>
How does ICM work?
A recursive mathematics algorithm shows the chance of every individual player to reach the ITM places depending on their chipcount. If a player has twice as many chips as the other, it doesn't mean that he has twice as many expected value in the prize money. This is where the name of the method comes: Independent Chip Model, as it is independent from the money.
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The use of ICM
ICM is very effective at poker tournaments when players are about to arrive to the ITM places. It's got ectraordinary importance at tournaments where more than 10% of the places are paid, as on one-table Sit'n'Gos and Double or Nothing tournaments.
ICM calculator is quite usable to divide the prizepool rightfully among the players on the final table if they want to chop. >>>
How to use the calculator?
The prize structure should be entered to the first column (the calculator is capable to handle up to 10 places paid). The place of the chip coulnt of the remaining players is in the second column. Pressing "Calculate ICM" button the final column shows the amount that is expected to be won by the individual players in the given siutuation.
What is this "limits" field in the ICM calculator?
Since ICM counting has a huge demand of resources, large amount of places paid and/or players could cause very big increase in calculation time (in case of a fulli filled table this could be several days). Marking the "limits" field users are allowed to fill as many fields that average computers wouldn't need more than 6-8 seconds to calculate the values.
Limits of ICM
ICM calculations are based on the chipcounts only, and don't take into account the advantages originated from the difference of knowledge between players. The main field of usage is at high level of blinds, when the play mainly consist of preflop allins. Although the good news is that the bubble situation of tournaments most of the cases include this play.
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