Reason #3 why the Wizard likes Bovada:

Excellent Odds

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Dragon Phoenix

Introduction

Dragon Phoenix is pretty much the same thing as the Australian game Two Up. It is a simple game played with two coins. Instead of Heads and Tails, Dragon Phoenix has, obviously, a Dragon and a Phoenix. The game was spotted at the Venetian Macau in September 2011.

Rules

Players take turns tossing two coins at the same time. The player places one coin Dragon up and one Phoenix up and tosses them. I have never actually seen the game, so have difficulty visualizing it. Following are the betting options.

Dragon

The Dragon bet will win if two Dragons are tossed before two Phoenixes. However if one of each are tossed, known as "odds", five times in a row all bets lose. The following table shows the possible outcomes. The lower right cell shows a house edge of 3.125%.

Event	Pays	Combinations	Probability	Return
Dragon Bet
Win	31	0.484375	1	0.484375
Loss	33	0.515625	-1	-0.515625
Total	64	1		-0.03125

Phoenix

The opposite of the Dragon bet. Player must get two Phoenixes before two Dragons or five odds.

Spinner's Bet — Dragon

The Spinner's Bet on Dragon is like a three round parlay bet on Dragon. In other words the player is betting that Dragon will win three rounds in a row. The payoff odds are 7.5 to 1, which is better than the 7 to 1 you would get with manually parlaying winnings. The following table shows the possible outcomes. The lower right cell shows a house edge of 3.40%.

Event	Pays	Combinations	Probability	Return
Spinner's Bet
Win	29791	0.113644	7.5	0.852327
Loss	232353	0.886356	-1	-0.886356
Total	262144	1		-0.034029

Spinner's Bet — Phoenix

The opposite of the Spinner's Bet on Dragon. Phoenix must win three consecutive rounds and a win pays 7.5 to 1.

Odds

The Odds bet is unique to Dragon Phoenix, not found in Australian Two Up. The bet wins if the coins land on one Dragon and one Phoenix five times in a row. The chances of any single flip resulting in one of each is 1/2. So the probability of this happening five times in a row is (1/2)^5 = 1/32. Wins pay 25 to 1. The following table shows a house edge of 18.75%.

Event	Pays	Combinations	Probability	Return
Odds Bet
Win	1	0.03125	25	0.78125
Loss	31	0.96875	-1	-0.96875
Total	32	1		-0.1875