[Value of Chips] Chips are not of equal value.
Poker Strategy / Tutorials, Equity & Logic AnalysisMany players believe that 1000 chips always equals 1000 chips, but this isn't the case in tournaments. When prize structure and elimination risk are taken into account, the value of chips changes non-linearly. This article will fully analyze the principle of diminishing returns, the ICM effect, and why the value of winning 1 million chips is often less than the cost of losing 1 million chips.



