The best way to approach ICC rankings is to look at them as indicators ​of what ought to happen if one team plays another tomorrow. ICC ODI team rankings are determined by a points system that takes into account various factors such as match results, series outcomes, opponent strengths, and time period.

International Cricket Council
Credit: ICC

Opponent Strength: The opponent's ranking also influences the points awarded. Defeating a higher-ranked team gives more points compared to defeating a lower-ranked team.

Updating Points and Rating: After calculating the points for the series, the new points are added to the team's existing points. The new points are then divided by the updated total number of matches (including the series) to get the new average points, which in turn affects the team's rating.

Time Period Consideration: The time period for calculating rankings is usually between 36 to 48 months. Matches older than 48 months are dropped off. The more recent matches are given higher weightage.

Weightage and Averaging: The first two years of the time period get 50% weightage, while the last 12 to 24 months get 100% weightage. This ensures that recent performance has a stronger impact on the rankings.

Opponent Strength: The strength of the opposition at the beginning of the series influences the points earned. A win against a stronger team gives more points compared to a win against a weaker team.

Team Ranking Chart

Teams are ranked according to their rating, which is in the fourth column. As an example, let's imagine India is about to play Pakistan. Imagine their rankings as:

Team

Match

Point

Rating

India

120

25

3000

Pakistan

80

21

1670

In this example, we'll calculate the impact of a series between India & Pakistan. Now, let's assume India wins the series against Pakistan with a score of 3-0.

Series Points for India: 3 (matches won)

Series Points for Pakistan: 0 (matches won)

Now, let's calculate the actual points for the series based on the rating difference:

If the rating difference is <= 40:

India's new points = 3 (India’s series points) * (Pakistan’s rating + 50) + 0 (Pakistan's series points) * (Pakistan’s rating - 50)

If the rating difference is > 40:

India's new points = (India's series points i.e, 3) * (India's rating + 10) + 0 (Pakistan's series points i.e, 0) * (India's rating - 90)

After that, it gets a little more tricky. Points are the number of points the team has accrued over those three or four years of matches, with recent matches given higher weighting. Eventually, the team’s standing is calculated from the points and number of matches played.

The Calculations:

Calculating a new ICC rating for an international team depends on a few things, including the ratings of the teams, the difference between those ratings & obviously, the results of the matches being calculated. They are the main introductory points of justice ranking computation.

>> Teams play by two scoring rules: one when the teams are somewhat close in skill (rating difference up to 40), and another when the difference is big (more than 40). This helps weaker teams earn more points by defeating stronger ones while making it tougher for higher-ranked teams.

>> After points are calculated and factored into the table, a team's new rating can then be calculated by dividing the points column by the updated Matches column.

>> Wins increase a nation’s standing; losses reduce a nation’s standing.

>> Draws or ties can increase or reduce a nation’s standing, depending on the standing difference between the two teams.

The method used to compute the points standing in a series relies on the comparative capabilities of the two countries engaged in that particular series. This is how the points are assigned.

Match Result Points:

Win : 2 points
Tie or No Result : 1 point
Loss : 0 points

Series Result Points:

Series Win : 10 points
Series Draw : 5 points
Series Loss : 0 points

Note: The specific calculations are a little more complex and differ slightly between Tests, ODI and T20I.

Remember that these calculations are a bit more complex, involving specific formulas and adjustments for different scenarios. The ICC uses this approach to reward consistent performance, encourage competitive matches, and accurately reflect a team's current standing in the cricket world.

So, let me conclude:

Looking at the numbers, it seems India has been a stronger team than Pakistan in the last three years. If they were to have a three-match series and India won all three, Pakistan's points and rating would decrease, and India's would increase. However, the increase in India's rating wouldn't be as significant, as they would lose quite a few points for losing to a much lower-ranked team.

If the series were to be drawn or won by Pakistan, the reverse would happen. Pakistan would be rewarded greatly for performing well against a top-ranked team, while India would lose a plenitude of points for losing to a relatively weaker team on the points table. 

The ICC Rankings are widely recognized as a credible and valuable component of the global cricket landscape. Developed by David Kendix, these rankings assess men's teams participating in Test, One-Day International, and Twenty20 International formats, as well as women's teams competing in One-Day International and Twenty20 International cricket.