Chip Chop vs ICM Chop Deals
A chip chop splits by stack size; an ICM chop splits by prize equity. Here's how each is calculated, who each favors, and a side-by-side worked deal.
On this page · 5 sections
A chip chop splits the money by stack size; an ICM chop splits it by prize equity. Both are ways to divide the remaining prize pool when players agree to a deal, but they favor different seats. A chip chop over-pays the big stack because it treats every chip as equal. An ICM chop pays each player their true share and is the mathematically fair method. Know both, because the room will offer whichever one benefits whoever suggested it.
What each method actually does
Both methods first guarantee everyone the next payout they’re locked into, then divide the rest — they just divide it differently.
- Chip chop: set aside the lowest remaining payout for each player, then split the leftover money in proportion to chip stacks. Simple, fast, and biased toward chips.
- ICM chop: run everyone’s stack through the Independent Chip Model to get each player’s real-money equity, and pay each their equity. Slower (you need a calculator), but it reflects the diminishing value of chips.
The difference is the same divergence at the heart of all ICM: a chip chop assumes chips are worth their face value, while an ICM chop knows the leader’s extra chips are worth progressively less.
Worked example: three-handed deal
Three players left, prizes $1,000 / $700 / $500 — a $2,200 pool. Stacks: leader 6,000, middle 3,000, short 1,000 (10,000 total). Here’s how each method splits it.
ICM chop (pay each their prize equity):
| Player | Chips | ICM equity |
|---|---|---|
| Leader | 6,000 | $864.76 |
| Middle | 3,000 | $746.67 |
| Short | 1,000 | $588.57 |
Chip chop (guarantee 3rd = $500 each, then split the remaining $700 by chips):
| Player | Chips | Chip-chop payout |
|---|---|---|
| Leader | 6,000 | $920.00 |
| Middle | 3,000 | $710.00 |
| Short | 1,000 | $570.00 |
Both split the full $2,200. But look at the gap: the chip chop pays the leader $55.24 more ($920 vs $864.76) and the short stack $18.57 less ($570 vs $588.57) than their true equity. The chip chop transfers money from short stacks to the big stack — because it ignores that the leader can’t actually convert all those chips into first-place money. The ICM chop, by contrast, credits the short stack for the equity they hold simply by other players busting first.
Who each method favors
The bias is systematic, not random:
| Chip chop | ICM chop | |
|---|---|---|
| Big stack | Favored (over-paid) | Fair |
| Short stack | Under-paid | Favored (fair credit) |
| Basis | Raw chip proportion | Real prize equity |
| Fairness | Biased toward chips | Mathematically fair |
| Speed | Fast, mental math | Needs a calculator |
So the negotiation writes itself. If you’re the chip leader, a chip chop puts extra dollars in your pocket. If you’re short or medium, insist on ICM numbers — you’re leaving money on the table with a chip chop. When someone at the table proposes a “quick chip chop,” recognize it as the big stack’s deal.
The one case where they agree
There’s a single spot where the two methods give the identical answer: heads-up. With two players and two prizes, whoever holds more chips has proportionally more equity — chips map linearly to money because there’s no third prize to distort the top. Consider a $1,600 pool ($1,000 / $600) split 7,000 / 3,000:
- ICM chop: $880 and $720.
- Chip chop: guarantee $600 each, split the remaining $400 by chips (70% / 30%) → $880 and $720.
Same numbers. That’s the exception that proves the rule: ICM and chip chops diverge only when three or more players remain, because that’s when diminishing chip value has room to bite.
The takeaway
Chip chop and ICM chop are two answers to the same question, and the gap between them is real money. A chip chop rewards raw chips and favors the leader; an ICM chop pays true equity and favors everyone else. They agree only heads-up. When a deal is on the table, know which seat you’re in, ask for the fair number, and check the math. Go deeper on when to take any deal in the deal-making guide and the wider tournament strategy hub.
Frequently asked
What is the difference between a chip chop and an ICM chop?
A chip chop divides the remaining prize money in proportion to chip stacks, after setting aside the next guaranteed payout for each player. An ICM chop divides it by each player's real prize-pool equity. The chip chop over-pays big stacks; the ICM chop is mathematically fairer.
Which deal is better for the big stack?
The chip chop. It rewards raw chip count linearly, ignoring that extra chips have diminishing value, so the leader gets more than their true equity. That's why chip leaders push for a chip chop and short stacks prefer ICM.
Which deal is better for the short stack?
The ICM chop. Because ICM credits short stacks for the equity they hold just by other players busting first, an ICM chop pays them more than a chip chop does. Short stacks should always ask for ICM numbers.
Is a chip chop ever fair?
Heads-up, a standard chip chop and an ICM chop give the same answer, because with two players and two prizes chips map linearly to equity. With three or more players the two methods diverge, and ICM is the fairer split.