How are win odds calculated? | Test Your Might

It’s baffling me – you would feel that it’s calculated using the number of wins a player gets, their win/loss ratio or both yet I am looking at a single guy with 1649 wins and 613 losses who I apparently have a 72% chance of beating, and another man with 380 wins to 260 losses that I seemingly have an 18% chance of beating. It absolutely does not appear to make any sense.
Unless, obviously, it’s calculated by factoring at the stats of every player you’ve beaten/lost to, but that seems a bit overly complex.
Am I missing something obvious or are those win odds percentages?
For those of you looking for the answer, the general (unconfirmed) consensus is that it’s calculated with a method very similar to the Elo rating system that computes skill based on who you fight e.g. you will gain more skill points beating good players and shed less losing to great players and vice versa.
EDIT #2:
It’s certainly an Elo-based points system; I have just noticed there’s a”Score” column on the player match leaderboard these points must be given/removed based on how many your opponent has.

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