I'll give a known ranking procedure and a handicapping example further down.
Pokerstars awards the points to the top 15% of players in a tournament based on this calculation:
Points = 10 * [sqrt(n)/sqrt(k)] * [1+log(b+0.25)]
Where:
- n is the number of entrants
- k is the place of finish (k=1 for the first-place finisher, and so on)
- b is the buy-in amount in Points or Dollars (excluding entry fee if there is one). If it's free just put 0.
Here's an example of theirs:
A player takes third place in a $20 tournament with a field of 150 players.
Here:
n = 150, k=3, b=20
The total points awarded to this player are:
= 10 * [sqrt(n)/sqrt(k)] * [1+log(b+0.25)]
= 10 * [sqrt(150)/sqrt(3)] * [1+log(20+0.25)]
= 10 * sqrt(50) * (1+1.31)
= 10 * 7.071 * 2.31
= 163.09 (rounded up)
You could expand the awarded points to cover whatever percentage of the field you like.
If you wanted to you could use this scoring system to establish a handicap by judging how players Actually perform vs how you Expect them to perform at random, and then adjust the points they receive post-tournament taking into account their handicap. For example:
A player takes second place in your 0 Dollar/Points tournament with a field of 10 players. You award the top 30% of players some points. Here (aside from the answer, rounding all calcs to 3 decimals):
Actual:
n=10, k=2, b=0
The total points awarded to this player are:
= 10 * [sqrt(10)/sqrt(2)] * [1+log(0+0.25)]
= 10 * 1.147 * 0.398
= 4.56 (rounded up)
Expected (the same except for k, which is the average random finishing place):
n=10, k=5.5, b=0
The total points awarded to this player are:
= 10 * [sqrt(10)/sqrt(5.5)] * [1+log(0+0.25)]
= 10 * 1.348 * 0.398
= 5.36 (rounded up)
You then take his Actual points, divide them by his Expected points (random) and you can see how much better (or worse) the player is against random chance. Here:
Handicap:
= Actual/Expected
= 4.56/5.36
= 0.85 (rounded up)
or the player is about 0.15 (15%) better than random. You could adjust his score after the game based on this, giving or taking some points away.
That was much longer than I anticipated :D I hope it gives you some good ideas.