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In poker, the Independent Chip Model (ICM), also known as the Malmuth–Harville method, [1] is a mathematical model that approximates a player's overall equity in an incomplete tournament. David Harville first developed the model in a 1973 paper on horse racing ; [ 2 ] in 1987, Mason Malmuth independently rediscovered it for poker. [ 3 ]
Newer designs in home chips include three-color designs where a three-step molding process creates a chip with unique base, secondary, and detail colors. As chip sets are tailored to the buyer, the values of various colors vary widely, with less traditional colors either used as very high values such as $500, $1,000, $5,000, and so forth ...
A chip race is an event that takes place in poker tournaments, especially those with an escalating blinds (such as Texas hold 'em), in which chips of denominations that are no longer needed (as the current and upcoming blinds are more easily played with larger chip values) are removed from play. This has the effect of reducing the number of ...
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Currency is difficult to stack or handle, so most poker games are played with chips, or coin-shaped tokens of uniform size and weight, usually 39mm wide and anywhere from 5 to 16 grams in weight, whose money value is determined by their color. Historically, poker chips were made of bone; however, modern casino chips are often made of clay or a ...
2006 World Series of Poker Main Event A home poker tournament in progress.. A poker tournament is a tournament where players compete by playing poker.It can feature as few as two players playing on a single table (called a "heads-up" tournament), and as many as tens of thousands of players playing on thousands of tables.
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The Chip Rack, now in its 21st edition, attempts to include all chips and checks issued by casinos in the State of Nevada. Some chips are considered high-value and have a listed value as high as $50,000. During their 2014 convention, a $5 chip from the Golden Goose SOLD for $75,000, and a $5 chip from the Lucky Casino SOLD for $52,500.
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