How much is it worth doubling your stack, how catastrophic is it to lose half your stack? Such questions are essential for a tournament player. The specific question is: How much prize money can a player expect to win with his chips in the long run? The background to ICM is a very simple question: What is a chip worth in a poker tournament?įor a poker player in a tournament, it is important to know how much his chips are worth at each moment. What is a chip worth in a poker tournament? In this article, we want to explain in detail what ICM means in poker and what this model is used for. ICM or “Independent Chip Model” is a term that will inevitably cross your way if you’re a poker tournament player.