As a chess player and poker player, I have always wondered what it would be like to implement the Elo rating system (used in chess) in poker. The player is rating is determined relative to all other players in the pool, so the universal Elo rating (the one that you could transfer from one poker room to another) will not work. That is, one poker room would have to hold a certain event or a series of events in which each player would track their Elo rating. I am not quite sure how ratings will go up or down depending on performance, since poker is not exactly a win-or-lose game like chess. Assuming this can be modeled correctly, I think a rating system like Elo could have some pretty interesting poker applications.
I like the idea of having a rating system in poker, given that such a thing can be reasonably implemented. What do you guys think about such a system? Would you play a ranked poker series?