You answered the first of four questions, thanks for that.
Re: assigning rankings for players, there are certain requirements to achieve rankings as per the rules.
To achieve one of the top three ranks, a tipster must have:
qualified by meeting the minimum threshold of 5 tips in 12 months period (similar to Free's threshold, will go up to 10 soon)
achieved more than 0% success rate (to avoid winners with no wins)
beaten two other qualified players (to avoid winners just by not having enough competitors)
(above 2 and 3 are introduced as we are at very early stages of the new competition. When we have more than 5 players qualified, all top three ranks will be assigned.)
To achieve any ranking below number three, minimum threshold of 5 tips shall be met. This is similar to Free's system except for the size of the threshold.
I think we should continue 5 tips threshold until 1st of July before reverting back to 10.