Hm. What are the percentages by each rank?
leagueofgraphs.com claims:
Challenger - 0.03%
Master - 0.05%
Diamond - 1.61%
Platinum - 7.66%
Gold - 21.09%
Silver - 48.59%
Bronze - 20.98%
Our goal is then to give each tier the same number of total votes, despite the difference in population. Because we're using votes, we'll use a minimum of 1; silver and bronze players get 1 vote each. We will then combine the population of silver and bronze and compare the others to it.
Minimum tier has (69.57/21.09) = 3.298 times the population of gold, so each gold player gets 3 votes.
(69.57/7.66) = 9.08, so each plat player gets 9 votes.
(69.57/1.61) = 43.2, so each diamond player gets 43 votes.
(69.57/0.05) = 1391.5, so each masters player gets 1392 votes.
(69.57/0.03) = 2319, so each challenger player gets 2319 votes.
Yup, this all seems perfectly fair to me, implement that shit Riot.