well gentleman asked how to estimate. Unless RD is small you cannot really estimate. The RD shoudl not event have impact on estimate just variance of the estimate , which is part of formulas for reason of keeping the update simple
ANd I understand the formulas and their inner workins well enough. I dunno how math-abled you are so cannot really compare
as for bettet: Any maximumlikelihood system that takes history of games into account is more accurate. there is for instance
http://universalrating.com/ it is maximu likelihood system withd decaiying history. Source code is not available
Remi Couloum is academic that has done researc on subject and his BayesElo is good https://www.remi-coulom.fr/Bayesian-Elo/ like the Elostat he is comparing his work with
And if you like study the match on these bradley-terry models with maximum likelihood estimation this is nice paper on finding the maximum likelihood estimate for a set of games http://personal.psu.edu/drh20/papers/bt.pdf
Obviously other multivariable minimisation algorithms work as well
as for what is best dunno there is no good comparison of all. There FIDE and Deloitte sponsored competition about decade a go and I can find result but I did articel with situation at some point of competittion
https://en.chessbase.com/post/can-you-out-predict-elo-competition-update
Not full results but for comparison post of the refence algorithms
Chessmetrics Benchmark: #10
Glicko-2 Benchmark: #38
Glicko Benchmark: #39
PCA Benchmark: #66
Elo Benchmark: #82
As you can see Glicko-2 was no where near the top. Mister G had a entry on compeitition best of my memory which was variation of Glicko-2
Problems with good algorithms
- Take more computing
- People treat rating as money hence the feel it unfair if the rating changes when they dont play. Which will happpen and makes ratings more accurate
