An ICM chop is calculated by applying the Independent Chip Model to convert each player’s current stack into probabilities of finishing in each paid position, then multiplying by each corresponding prize. This approach is fairer than per-capita chops as it recognizes that larger stacks have higher probability of finishing in better-paid positions. Negotiating an ICM chop benefits medium stack players and slightly disadvantages large stacks who could convert their advantage into higher $EV through continued play. At live final tables, ICM calculators are used in real time to evaluate deal proposals.