MMR - The Real Algorithm
You know... no other game company with a matchmaking system keeps their algorithm hidden. None of them. Zero. Want to know what Blizzard uses? TrueSkill, the precise mathematical algorithm is available online. Same with almost every other company with a ranked matchmaking system.
RIOT? Hell no. The algorithm was discovered, once, about four years ago.... SO Riot changed it. They openly admitted to changing it -because- it was discovered. Why did they do this? Because it was shown to be imprecise, and fucked over players.
So, if you ever honestly want to know how MMR -truly- works? Good luck. The one time people figured it out, RIOT scrambled to change it into something that was worse. As opposed to just admitting they've no idea how to create an effective algorithm to juggle the number of player variables, and hiring an outside contractor to create one.
EDIT
I was asked for the MMR explanations for OTHER games, with the idea -they- hide how it works TOO! Let's see:
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https://steamcommunity.com/sharedfiles/filedetails/?id=312582297 CS:GO
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https://dota2.gamepedia.com/Matchmaking Dota 2 (Btw, they let you SEE YOUR MMR. Your MMR, your team's MMR, right there on the interface)
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https://www.vainglorygame.com/news/squid-ink-visual-skill-tier-vs-matchmaking-rating/ Vainglory
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https://www.researchgate.net/publication/236887261_Analysis_of_player%27s_in-game_performance_vs_rating_Case_study_of_Heroes_of_Newerth Heroes of Newerth
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Bonus Round - Heroes of the Storm https://heroesofthestorm.gamepedia.com/Matchmaking_Rating