Swittie found this, let's use as much of this as possible:
How are the player scores calculated?
The scores are calculated according to a simple exponential formula. Each player gets a score based on their final position and the total number of entrants in each event, rounded off to the nearest non-decimal value.
Formula: Multiplier^(Entrants-Position+1) = Score.
Where the Multiplier is whatever number which raised by the number of entrants would equal the number of entrants.
For example in a league event with 500 entrants, the winner would get a score of 500, the runner-up a score of 494, the #250 finisher a score of 22 and the last place a score of 1.
(This is something we should consider, like a reverse scoring system. if you take first place in a field of 88 then you get 88 pts? I don't quite get how it goes down from 88 - 1 though without it being -1 at a time)
How are the team scores calculated?
When a player competes in a league event and gets a score, the player can also get a team score.
For a player to get a team score he or she must obviously be a member of a team, and at least one other member of that team must have played in the same league event.
The team score each player gets is the same as the average score of all of the team members who played in the event.
The team rankings is based on that average, not on the total score of all members. There is therefor no advantage to have a lot of members except of course to increase the chance that someone reaches the final table.