I was hoping that someone might be able to help me with a problem we are having - hopefully this is the correct forum. We are developing new software which datamines online poker and presents the statistics in a useful way for customers.
One of the "fun" features we would like to have is a ranking system - the one I am currently looking at is the ELO chess ranking system which has the benefit of being very simple and allows you to calculate the expected probability of one player beating another player given any 2 rankings. The drawback is that this does not take account account of the magnitude of the win.
Does anyone know of any ranking system or have any thoughts on a system we could implement that:
a) Is simple
b) Takes account of the size of the win
c) Allows us to calculate the expected probability of either player winning based on the difference between each rank
Thanks a lot!