One of the interesting things about the professional Magic: The Gathering ecosystem is that players who devote their entire lives to being great at the game might have a peak win percentage of 60%-65%. Indeed, the distance between an above average and elite player might be just 5-10%. This seemed like an interesting math challenge, but first a small bit of background:
In tournaments, the rounds are typically structured so that players are paired as evenly as possible. That is, you will likely be playing against someone with a similar W/L record as you. Ignoring skill and variance for now, a very basic interpretation of this pairing system is that you should expect to win around 50% of the time.
Given that, how could one represent the true skill distance between players? For example, just how much better is a 65% player than a 60% player? Based on the unbelievable rarity of even a 70% win rate, perhaps a 65% player would be an order of magnitude better than a 60% player?
So I could imagine a formula in which 50% = 0.5 with that value trending exponentially towards down towards 0 or up towards 1 depending on the win rate.
Thoughts?
Ignoring the MTG aspect and instead concentrating on the ranking system of players with disparte skill levels, consider the Elo ranking system originally designed for chess (now used in Scrabble, Baseball, Football, and e-Sports). Elo relies on logistic distribution to approximate the underlying skill levels of the players. From the wiki:
It looks like there are several projects already online that attempt to rank players using the elo system, here's one for example:
http://www.mtgeloproject.net/
Another interesting discussion on the parameterization needed for Elo w.r.t. MTG can be found on this thread:
https://www.reddit.com/r/magicTCG/comments/3pxuvp/mtg_elo_ratings_for_top_100_constructed_limited/