The below ranking scheme is shamelessly stolen from the ELO-ranking system that is used by the French Britannia championship, and adapted to Age of Renaissance by me...
The idea of the ranking is to have a permanent ranking system.
Once in every 3 months a new ranking list will be computed based on reported games.
For each game in the database, it is assumed that the players 'bet' 5% of their current ELO (Players not yet ranked start at 3000 - it's a good place to start).
The total of the 'bets' is 1146
The winner takes 1/2 the points (573), the second takes 2/6 (382), and the third place gets 1/6 (191) of the points. These are added to the player's starting ELO - bet (meaning that four of the players above would actually loose ELO by coming third in this game).
Further, if a player scores better than expected, he will receive a bonus. In the above example player C finishing better than last position would entitle him to a bonus. Player F is expected to win the game, and have no chance of a bonus.
The bonus is calculated as follows:
Player C finishing in third place would receive a bonus based on the following formula:
(winners total score - looser's total score / 6)*(-3-(-6)) = bonus
The final set of parenthesis are a way of saying: finished third, but expected to finish sixth.
If we assume that the final scores were as follows for the players A-F:
Given the final scores above, the resulting ELO rating after this game would be: