Chip EV

Basic Definition

Chip EV refers to the expected value based on the potential amount of chips that can be gained in a poker tournament. It is used to evaluate whether a decision will result in an increase or decrease in chips.

Specific Situation

• In a tournament, when you hold AK and an all-in is proposed, you can determine whether the play is chip EV positive and choose your action based on that.
• When a short-stacked player goes all-in, consider your hand and the pot odds to calculate the chip EV gained by calling.

Important Information

• Chip EV is based purely on the amount of chips in a tournament, so it differs from the actual prize money expectation ($EV). It ignores the impact of the Independent Chip Model (ICM), where prize distribution is important, making it unsuitable for direct use in real situations.
• Playing with a positive chip EV isn't always strategically correct in tournaments. It's important to consider prize distribution and ICM.

Examples of Term Usage

"In this situation, going all-in is positive in terms of chip EV, but considering ICM, you should be cautious."