Depending on the level a wizard is in ranked macth.For example,4v4 all grandmasters.The higher the level a person is,the more tickets and rank goes up more?
Arena tickets can be used to purchase equipment/pets/furnitue from Diego and his buddy(forgot name) outside the arena in Unicorn Way.
The amount of ranking points earned depends on your level/rating relative to your opponent's level/rating. Arena tickets are constant, 10 if you win, 3 if you lose, 0 if you quit.