ICM & Tournament Bubble Strategy

Independent Chip Model (ICM) is the most important concept in tournament poker.

What Is ICM?

ICM converts your tournament chip stack into real dollar value. Because tournament payouts are top-heavy, chips lost are worth more than chips gained.

ICM Pressure

**On the bubble**: ICM pressure is at its highest. Short stacks should play very tight unless they can apply pressure.

**Big stack advantage**: Big stacks can bully medium stacks who are trying to survive the bubble.

**Final table**: Every elimination significantly increases your dollar EV.

Bubble Strategy

**As a big stack**: Raise frequently and apply maximum pressure

**As a medium stack**: Play tight, avoid marginal spots against bigger stacks

**As a short stack**: Look for spots to shove with any reasonable hand

Key Adjustments from Cash Game Play

**Fold more**: Marginal +EV spots may be -$EV in ICM terms

**Raise smaller**: Min-raises become standard on the bubble

**Call tighter**: Your calling range vs shoves should be much tighter than chip EV suggests