Poker Tournament Basics: ICM, Stack Sizes, and Bubble Play

We thought we’d focus on the essential ways to apply final table poker tournament strategy to better navigate these spots. To do this, we’ll focus on ICM, stack sizes, and bubble play by writing in straight-forward language, following a clear structure, providing examples, and directing you to further quality educational resources in the process. You’ll soon start learning when to shove, call, or even ditch aces to keep your equity. Editorial note: You shouldn’t risk more money playing poker than you can afford to lose. If you’re struggling with your poker, check out BeGambleAware and the National Council on Problem Gambling for free resources to help. To comply with gambling laws in your country you should be 18+ (21+ in the US).

Note: Poker has risk. Do not play with money you need for life. If you have a problem, get help at BeGambleAware or the National Council on Problem Gambling. Follow your local laws (18+ or 21+).

  • Key Concepts You Must Know
  • Understanding ICM in Tournaments
  • Stack Sizes and Default Adjustments
  • Bubble Play Fundamentals
  • Putting It Together: Hand Scenarios and Common Mistakes
  • How to Study and Practice ICM
  • FAQ
  • Conclusion

Key Concepts You Must Know

We start with a few words you must know. These terms guide your choices at the table.

  • ICM (Independent Chip Model): ICM turns chips into money value near payouts. Chip value is not linear. The next chip is worth less than the chip before it. Learn more on Wikipedia.
  • chipEV vs $EV: chipEV is chip value. $EV is money value. Early in a tournament, play more for chipEV. Near the bubble and final table, play for $EV with ICM.
  • Effective stack size: This is the smaller stack between you and your opponent. It sets the risk in the hand.
  • Bubble factor and risk premium: On the bubble, you need a stronger hand to call all-in than to shove. The risk of busting is high. You can read a simple intro to bubble pressure at PokerNews Strategy.
  • SPR (stack-to-pot ratio): This is stack size divided by the pot after the flop. Low SPR favors strong one-pair hands. High SPR favors draws and strong made hands.

Understanding ICM in Tournaments

ICM is about money, not just chips. In cash games, one chip is always one dollar. In tournaments, chips do not turn into money at 1:1. Payouts come in jumps. ICM helps you choose lines that protect your place in the prize pool.

When can we consider ICM almost not even being a factor?

  • Near the bubble.
  • Near final two tables.
  • At the final table.
  • In satellite bubbles (very strong effect).

Risk premium, in layman terms: If you make a full house call, you are risking getting eliminated. If you go all-in, you might make the villain fold. Obviously, you need to call with stronger hands than you need to push with. That “extra power” is the risk premium.

  • Early levels with deep stacks.
  • When there are no payout jumps soon.

You might use chipEV logic here to say that ATo is a good call. But this is a bubble scenario and you start to bring in your ICM calculator. If you call and lose, you will get $20. And if you fold, keep your stack and bust B as 3rd, you get $30. Now that difference between 20-30 is a big one for you, so it may just say that you should fold this hand (check this out with HRC) Folding to protect your equity happens a lot more on the bubble of games and you can go and plug this into HRC and see what it says. Common misconceptions:

A simple ICM example:

  • 3 players left. Payouts: 1st $50, 2nd $30, 3rd $20. Total $100.
  • Stacks: Player A 50k, Player B 30k, You 20k. Blinds 1k/2k/2k.
  • Button (A) shoves 50k. Small blind (B) folds. You are big blind with ATo and 18k behind.

ChipEV thinking may say ATo is fine to call. But with ICM, if you call and lose, you get $20. If you fold, you keep your stack and hope B busts first. That jump from $20 to $30 is large for you. An ICM calculator will often say fold here. You protect your $EV by folding more on the bubble. You can test spots like this with Holdem Resources Calculator (HRC) or ICMIZER.

Ultimately, the size of your stack dictates how you should play. The following are the hand ranges that I’d recommend for most situations. Don’t forget that you can change them up depending on your position at the table, and should tailor them towards giving those you have fewer people acting behind you (lowering the bar on the range of hands you’re willing to play). The other major consideration should be the Independent Chip Model, or ICM, explained in the PokerStars tournament school:

  • “ICM is only for final tables.” False. It matters on all bubbles and near pay jumps.
  • “ICM means never bust.” False. You still take good shoves, and you still call with strong hands.
  • “ICM kills aggression.” False. ICM shifts who can be aggressive. Big stacks can push medium stacks around on the bubble.

For deeper study, see the classic ideas in “The Mathematics of Poker” (book overview on Google Books). For the idea of equilibrium shoves and calls, read about Nash equilibrium.

Stack Sizes and Default Adjustments

Stack size drives your plan. Use these bands as a quick guide. Adjust by position, players behind, and ICM.

1–7 big blinds (bb)

  • Play push or fold. Limp only with rare traps vs very aggressive players.
  • Look for fold equity. Antes matter a lot. Steals are huge for your stack.
  • Open-jam strong hands. Re-jam versus late opens if they fold a lot.
  • Do not min-raise/fold. You burn too much of your stack.

8–12bb

  • Still mostly push/fold. You can add a few limp-traps in small blind.
  • Jamming over loose late-position opens is strong.
  • Avoid min-raise/fold from early or middle position.

13–20bb

  • Great for 3-bet jam (re-shove) versus opens, especially from late positions.
  • Flat calls can be okay on the button, but be careful with ICM behind you.
  • Calls vs all-ins need to be tight when ICM is strong.

21–30bb

  • Open normal sizes. Add some small 3-bets vs frequent stealers.
  • Do not bloat pots out of position with weak hands.
  • Defend blinds with hands that play well postflop (suited, connected).

31–50bb

  • Play a full range. Use position. Find thin value vs weaker players.
  • 3-bet more in position. Keep pot small out of position with medium hands.
  • Near the bubble, slow down vs stacks that cover you.

50bb+

  • Early levels: focus on chipEV. Build pots with strong hands.
  • As payouts near, watch ICM. Do not tangle light with the only stack that covers you.
  • Use table image to steal blinds if players overfold.

Always think about effective stack. If you have 60bb but your target has 18bb, the hand plays like 18bb. Also watch who covers whom. If a player covers you near the bubble, your risk is high. Tighten calls.

For push/fold and re-jam study, try the tools above or the training pages at PokerStars Learn.

Bubble Play Fundamentals

The bubble is the last stage before payouts. Players fear busting. ICM pressure is high. Big stacks should attack. Medium stacks should avoid disaster. Short stacks should be smart and pick good spots.

Big stack on the bubble

  • Open more hands from late position.
  • Target medium stacks. They fear busting. They fold more.
  • Avoid big pots with the only stack that covers you.
  • Use small sizes to force folds. Make them risk their event life to continue.

Medium stack on the bubble

  • Do not take thin flips versus stacks that cover you.
  • 3-bet jam versus late position steals only with hands that play well when called.
  • Pressure short stacks when they are forced all-in soon by blinds and antes.
  • Track pay jumps. Laddering has real value now.

Short stack on the bubble

  • Use push/fold charts. Pick spots with fold equity.
  • Shove first in the pot. Do not limp and get trapped.
  • In blinds, call all-in tighter than usual. Busting hurts your $EV a lot.

Satellites vs regular MTTs

  • Satellites pay many equal seats. ICM is extreme. You often fold strong hands to lock a seat.
  • In regular MTTs, first place pays much more than min-cash. You still want chips, but you must respect ICM on bubbles.

PKO (Progressive Knockout) twist

  • Bounties add extra money when you can cover and bust a player.
  • This extra value makes calling a bit wider when you can win the bounty.
  • But if you are covered, busting costs you ICM value. Balance both. See PKO ICM ideas on the ICMIZER blog here.

Putting It Together: Hand Scenarios and Common Mistakes

Scenario 1: BTN shove vs BB call near the bubble

  • 8 players left. 7 get paid. Blinds 2k/4k/4k. Payout next: min-cash $200.
  • Stacks: BTN 16bb (covers you), SB 12bb, You (BB) 11bb, others 9–22bb.
  • BTN shoves. You hold A8s in BB.

ChipEV might call. But ICM says be tighter. If you call and lose, you bust with $0. If you fold, a 9bb stack may bust first. Here, folding A8s can be correct. Run this in HRC to see how your calling range shrinks.

Scenario 2: Re-jam with 15bb vs CO open on the bubble

  • 9 left, 9 paid (final table bubble is over, but pay jumps start soon).
  • CO opens 2.2bb with 28bb. You are BTN with 15bb and AJs. Blinds are tight stacks of 10bb and 12bb.

A 3-bet jam is strong. You block top calling hands. You fold out many opens. You also avoid a tough postflop spot with low SPR. This play prints chips and keeps ICM risk manageable because opener folds a lot.

Scenario 3: Big stack pressure

  • 14 left, 12 paid. You have 45bb on the cutoff. Two players with 18–22bb in blinds.
  • You open K7s. Both blinds are medium stacks who fear busting.

This open is fine. Use a small size. If they call, use boards where you have range edge to c-bet small. If they play back, fold your weak hands. Your goal is to win many small pots, not one huge flip.

Common mistakes to avoid

  • Calling too wide vs all-ins near the bubble. Respect risk premium.
  • Taking close flips vs stacks that cover you. Your bust-out risk is high.
  • Over-bluffing when people will not fold. On bubbles, many players “call tight” as callers, but “defend tight” as openers. Know who is who.
  • Ignoring pay jumps at the final table. Fold spots exist. Take them if $EV says so.
  • For PKO, forgetting bounty value when you can cover. You may call wider when bounty $ pushes it to +$EV.

How to Study and Practice ICM

ICM translates chips into tournament $EV. cEV is your “chip EV”. In the early stages we generally play for cEV. As the tournament progresses and we approach bubbles, or the final table we cEV and $EV merge together.

  1. Mark hands during play. Tag bubble hands and final table hands.
  2. After the session, run them in ICMIZER or HRC.
  3. Write what the tool says. Note where your shove/call was too loose or too tight.
  4. Update your push/fold and re-jam ranges by stack band and position.
  5. Repeat. Small gains each week add up fast.

On the money bubble, on pay-jump bubbles, and at final tables. Also in satellites, where many places pay the same seat.

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FAQ

What is ICM and how does it differ from chipEV?

ICM turns chips into money value using the payout tree. chipEV is chip-only value. Early game, chase chipEV. Near bubbles and finals, you must weigh $EV with ICM.

When should I care most about ICM?

On the money bubble, on pay-jump bubbles, and at final tables. Also in satellites, where many places pay the same seat.

How do short, medium, and big stacks change play?

  • Short stacks (1–12bb): push/fold. Look for fold equity. Avoid min-raise/fold.
  • Medium stacks (13–30bb): re-jam vs steals. Avoid thin calls vs stacks that cover you.
  • Big stacks (31bb+): open more, but do not fight huge covered pots near bubbles.

What is bubble factor and risk premium in simple terms?

You need a stronger hand to call an all-in than to shove one on the bubble. Busting hurts. That extra strength needed is the risk premium. The effect of this on both players is the bubble factor.

How do satellites change ICM?

In satellites, chips near the bubble are very “hot.” You fold more. You pass on flips. You play to lock a seat. ICM is extreme here. See more satellite basics on PokerStars Learn: Satellites.

Do PKO tournaments change ICM ideas?

Yes. Bounties add money to the pot when you can cover a player. This lowers your calling threshold a bit. But if you are covered, the cost of busting still matters.

Should I study Nash push/fold charts?

Note: This article was written on December 22, 2025. I am an MTT player and coach. I passed 2,000 MTTs early this year. I study regularly with HRC/ICMIZER Results and bio available on request.

What tools help me learn ICM fast?

  • ICMIZER for push/fold and PKO modes.
  • Holdem Resources Calculator for $EV spots and ranges.
  • PokerStars Learn for free lessons and drills.
  • Wikipedia: ICM for the core idea.

Conclusion

ICM helps you turn chips into money. Stack size tells you how to act. On the bubble, be brave when you cover, and be careful when you are covered. Use tools to study spots you tag. Build a simple habit. Over time, your $EV and your cashes will go up. Play safe, know the rules, and keep learning.

Extra tips and trusted resources

  • ICM basics: Wikipedia
  • Free lessons: PokerStars Learn: Tournament Strategy
  • ICM calculators: HRC, ICMIZER
  • PKO theory intro: ICMIZER PKO Blog
  • Nash idea: Wikipedia: Nash equilibrium
  • Responsible gambling: BeGambleAware, NCPG

Last updated: . Author: Tournament player and coach. 2,000+ MTTs played. Regular study with HRC/ICMIZER. Results and bio available on request.