Poker Tournament Terms: MTT, ICM, Bubble Play & More

Tournament poker is a fundamentally different game from cash poker — not just in structure, but in strategy, psychology, and bankroll management. Where cash game players measure success in big blinds per 100 hands, tournament players chase deep runs, final tables, and the explosive variance that comes with competing for a single top prize. This category covers the full vocabulary of tournament play: formats, structures, and the strategic concepts that separate a consistent deep-runner from an early-exit regular.

The dominant format is the MTT (Multi-Table Tournament): a fixed buy-in event where all players start with the same stack, blinds increase on a schedule, and play continues until one player holds all the chips. MTTs range from micro-stakes Sunday grinders with hundreds of entrants to the WSOP Main Event with its $10,000 buy-in and eight-figure first prize. The appeal is the high ceiling: a $10 MTT can theoretically return $1,000+ if you run deep in a large field.

The most critical strategic concept unique to tournaments is ICM (Independent Chip Model). In a cash game, chips have a 1:1 monetary value. In a tournament, this equivalence breaks immediately because of the prize structure. Finishing 10th in a 100-player $100 MTT that pays top 15 is worth $200, while the chip leader may hold 30% of the chips but will only win first prize — far less than 30% of the total prize pool. ICM quantifies this non-linear chip value and changes the optimal strategy significantly near the bubble and at final tables.

Other essential tournament concepts include stack-to-blind ratio — how many big blinds you have, which dictates which plays are available — satellite strategy (tournaments where you win a seat rather than cash), and the mechanics of re-buys, add-ons, and turbo structures that affect optimal early-tournament aggression levels.

Whether you are new to MTTs or trying to sharpen your understanding of push-fold ranges, bubble dynamics, and deal-making at final tables, the terms below are your essential reference. Read our PokerStars review for the biggest tournament lobby in online poker.