Should there be a change in attitude/strategy when playing in a cash game versus a tournament? In one you are capable of replenishing funds, and in the other you will be eliminated.
closed as not constructive by Robert Cartaino♦ Jan 10 '12 at 23:48
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Good play at a table (cash game) and a tournament/SNG can be very different. In a cash game the chips are directly redeemable for money. Thus chip_ev = money_ev. This is not true in tournaments. ICM (Independent Chip Model) is a mathematical model to estimate the worth of chips. In general winning one chip has less impact than losing one chip on the worth of a stack. Or in other words chips of small stacks are worth more than chips of big stacks.
This can lead to the situation, that 2 players are all-in and this leads to a negative expectation for these 2 players since all other players in the tournament profit from this situation. This finally leads to the fact, that in late stages of a tournament being the one who goes all in first can be very important, since your opponent has to fold a lot more than in cash game. In a cash game he needs for a call always not more than 50% equity while in a tournament this value can be above 70%.