Your division rank is, from what I understand, how "close" you are to ranking up. With 100 being the farthest, and 1 being almost promoted.
How many points you get is determined if you win/lose and WHO you win/lose against. Postgame (And maybe even pregame) it will tell you your "odds" of winning in terms of "Favored" "Even Match" and "Not Favored".
Once you hit Rank 1 I think you just need to win another game or two and you should advance. >.>;
Correct me if I'm wrong.
Achievement Unlocked: Accepted Jesus as your Lord and Savior.
To answer your question, it depends on your hidden matching rating. Win ratio means nothing. Standing means nothing. Blizz has said that every X amount of games it recalculates your league based on your hidden rating.
I will say from personal experience that being ranked #1 doesn't automatically promote you. I sat at #1 in my silver league for at least 8 games (6 of which I won) and continued to rack up points. When it finally promoted me today I am now #1 (without playing any games since promotion) in my gold league. I think I lucked out because I played against easier competition while sitting at #1 in silver league. I'm sure it will even out soon, though. Anyway, just my anecdotal story.
I was ranked #7 in bronze, won a game against a mid-level Silver, and got promoted right away. It took about 25 or so games, mostly because I lost a ton at first trying to find which race I was most comfortable with.
I'm not a FF7 Fanboy, I just used to be. Also known as AJMcSpiffy (Gaming Name)
I was ranked 75th in platinum when I ranked up to diamond. They are barely correlated at all.
This is how it works:
It is based on how well you do against people in higher leagues, as well as how bad you do against people below you. So if you are in gold, and you keep losing to silver, you won't be promoted, but if you keep beating platinum, you will be promoted. ALSO: the game 'checks' to see if you should be promoted every X amount of games. So even if you win 15 games in a row, it might not have checked yet. So yes, it does matter how many you play.