League of Legends PUGs? (Pick up games)

Just wondering, is there pugs for league of legends?

If you're wondering what is a pug and why I am asking...

I came from the counterstrike scene, won hundreds of dollars worth in gun skins, then lost it all in jackpot bet. Pugs are pick up games, hosted by a website called ESEA. They are all-solo queue games.

In counterstrike terms, you are assigned in a league. The more wins you get, the more points you get, and with losses come deduction in points. Players battle it out for the most points and the #1 spot.

You search for a match, and the website matches you with 9 other random people around your skill level. You add them in game and invite them to a private match.

Basically, it's ranked, but for players who want more of a challenge. There's also an option to play wager matches (put in money, winners take all).

I used to play these all the time instead of ranked in CS:GO, I want to know if there is one for LoL.

Thanks, focus