Dexas Holdem

ICM Calculator

Malmuth-Harville · final tables
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1. Stacks

2. Prize Pool + Payouts

Prize pool ($)

Players paid

Total %: 100.0%

Total chips: 0 · Method: — · Ready.

Seat	Stack	Chip %	$ Equity	Eq %	P(1st)	P(2nd)	P(3rd)	P(bust)

What ICM tells you: In a tournament, a chip in your stack is worth less than the chip you won — because finishing 5th pays the same whether you have 1,000 or 10,000 chips when you bust. ICM converts chip counts into actual dollar expectations, accounting for the payout structure. It's the math that makes bubble play different from cash-game play.

Algorithm: Uses Malmuth-Harville recursion. Probability of finishing first is proportional to stack size. Conditional on the leader being chosen, probability of finishing second is proportional to remaining stack — and so on. Exact for ≤9 players (factorial enumeration), Monte Carlo with 10,000 trials for 10-12 players.

When to use the "chop offer": Players are often willing to deal-make a final table to lock in EV and skip variance. The chop button shows what each seat is worth in pure ICM terms. Most chops settle slightly differently — chip leader takes a small premium for variance avoidance, short stacks take a small premium for "having to gamble." A pure ICM split is the fair baseline to negotiate around.