The Placement Answers
I've seen a ton of post questioning how the placements worked and how people ended where they were. I'm going to attempt to explain the math behind it and the process of how people ended up plummeting in ranked. I'm going to take this chronologically starting with the end of last season.
So at the end of the season we all get our season rewards with a set MMR.
The preseason started and people continued to play ranked. Some continued to take is serious and others took it as time to try some new things especially with the new jungle being introduced. One group here is benefiting themselves while the other is setting up a disastrous placement matches.
By the Time placement matches come around Riot has been calculating your MMR with every W/L you got in the preseason. Your MMR wasn't frozen the moment the regular season ended and was still increasing or decreasing.
Now placement matches come around and everyone gets hyped. Behind the scenes though Riot is running some numbers. Here is ROUGHLY how they figure it out:
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They take your MMR from RIGHT BEFORE PROMOS. That means all the MMR after preseason (so sorry for anyone who tanked it trying new things/trolling) up to January 21 at 11:59 AM PST. (Mine was 1873 Plat V according Op.gg and will use rough estimates from now on)
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They add the average MMR of ALL league players to your MMR and divide it by 2 (My MMR (1873) + the average (which is roughly mid silver so its about 1300) /2 (3173/2 = 1586)). By my numbers My personal MMR is about 1586 which is close to mid tier gold Elo.
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Now comes the not so important part...Your placements. These 10 games are actually the least important part of the entire calculation. It takes you against others with the same elo, which are all players who you would be playing with anyway.
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after your placements they knock your Rank (not MMR) lower by an unknown parameter and give you increased LP gains to compensate for those that truly belong much higher.
Some quick notes thanks to Devi Freak Mint's comment:
If you are a division 5 your MMR can vary widely with it being extremely hard to get demoted. This means that just because you are Gold 5 doesn't mean you have the MMR of a gold 5, but you could have the MMR of a silver 3 and still be considered gold 5 by the system.
While this is just rumored it seems to be true for most players. WHen doing placements if you lose earlier matches your MMR takes a bigger hit than if you lose later matches. So if you lose your first 3 you can't win the last 3 and be even. So while going 5/5 looks good the final total isn't what matters. Its the order in which you win them. The TL:DR is earlier games have more weight to them in placements then later games.
So while it seems really unfair for a lot of people its actually working how it should. Some of these resets have been very rough on some people causing massive drops. While I think the reset was mislabeled as a soft reset and should be considered much harder since I don't remember ANYONE falling the that bad outside of rare occasions.
I hope this clears up some of the confusion that has come out over the placement matches. If there is anything I forgot (which there probably is) or more questions feel free to post them and I'll answer them to the best of my ability.
Note: If this is in the wrong board plz don't delete it. Things like this need to be known by people and it would be much appreciated if it could be moved to the proper board with them being so specific
Update: My personal Ranking became Gold 3 after going 4/6. My order was L/W/L/L/W/L/L/W/L/W. My MMR is 1633 according to Op.gg. Seems to have some consistancy with the information given above. If anyone else wants to post their games be more than happy.
Edit 1: Added some comments after Devil Feak Mint's comments
Edit 2: Completely corrected wrong MMR numbers after an overlook.