Waivers seem to use the same tiebreaker that is used for determining seeding in the playoffs (dead-to-head record first, then division record, then run differential, then last season's record and finally a coin flip.) Note: this is different than the amateur draft order tiebreaker.
P.S. I submitted a ticket as sometimes this does not work exactly right - however support stalled responding until it was too late to verify my claim.
7/19/2011 4:17 PM (edited)