How are driver rankings calculated?

ALR uses the ELO ranking system.
ELO is a mathematical formula used to rank individuals in many games in the real world. The idea is that you take points from the player that you beat. If your ranking is higher than the player you have beaten, you will take fewer points from them compared to if you have beaten players of a higher rank than yourself.
This formula has been adapted for group ALR grids and forms how the ALR Rankings work.