Chip and a Chair means a player still has a chance to win a tournament as long as they have at least one chip and are still seated.
Explanation. This phrase captures the spirit of perseverance in tournament poker. Even with just a single chip left, a player is not eliminated and technically can come back to win. The term became popular after famous comebacks where short-stacked players turned things around dramatically. It’s often used to describe underdog situations and reminds players never to give up, no matter how dire the stack size.