Independent Chip Model

[Eyeofsauron]

Just reading a discussion about ICM on another forum, but haven't a clue what this is about. Can anyone explain this in simple plain english?

I've found the following link doing  a google search http://www.poker-tools-online.com/icm.html

It looks like it's concerned with how many chips you have in relation to how much prize money is on offer, and your probability of making each position. However, that's the limit of my understanding, and I don't know how to apply it to my game.

BTW, I played my first $315 nine person sit and go on Stars the other day... and won it!!!!
That tournament could be a good example, as at one point, I only had 1381 chips. The other two opponents had 3933 chips and 8186 chips.
I won first place and 50% of the prize pool which came to $1417.50
2nd place would have got 30% and 3rd place was awarded 20% of the prize pool.

If someone could explain what Indepenent Chip Model is all about, I would greatly appreciate it.

Thanks

Joseph

[Sheriff Fatman]

A start point...

http://blondepoker.com/forum/index.php?topic=19982.msg406765#msg406765

[Eyeofsauron]

Cheers. Been doing a little bit of reading. Not something you could readily use whilst playing, but could be useful for analysis after a tournament.