ELO is a rating system originally developed for chess that measures the relative skill level of teams. In college football, it provides a more accurate ranking than traditional polls by considering strength of schedule and margin of victory.
Blowout wins earn more ELO than close wins. The system rewards dominant performances while not heavily penalizing close losses to good teams.
Teams start each season with ELO ratings based on their previous four years of recruiting. New teams or teams without history start at 1500.
ELO ratings can predict game outcomes and point spreads. A team with 50 more ELO points is expected to win by about 3 points on a neutral field.