Is it updated on a hourly basis? or on a daily basis? or how does it work out exactly. I apologize if this question was asked before, but ty in advance and I'll delete this post when and if I find out the answer.

My opinion is that it updates every time you exit maplestory. Usually i check every time i log off. It shouldn't be daily; im pretty sure about that.

Actually, I thought that it was on a daily basis. I logged out, but i took all my clothing off so i could "RUN LIKE THE WIND" :D, and when i looked at the ranking, it didn't change.

I think that it updates Daily. But, I'm not really sure. So, yeah....

Many suggestions, get the facts.
It updates in 3 hours, maybe less. I checked it by change clothing and it was 3 hours later when i got on the site. So maybe its lesser but surely not more.