Independent Chip Model
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In poker, the Independent Chip Model (ICM) is a mathematical model often used in the late phase of a tournament that guides players' decisions so that they can maximize their chances of cashing. Such guidelines take into account, among other things, the players' chip stacks, their position at the table, pot odds, the payout structure, as well as the number of players left at the table and their history. ICM involves estimating the expected value of your possible actions based on a number of factors and deciding on what action to take accordingly.