Dead or Alive 2 by NetEnt — Full Review

Dead or Alive 2 was released by NetEnt on April 23, 2019 as the sequel to Dead or Alive (2009), one of the most iconic high-volatility slots of the early online casino era. The sequel retains the 5x3 grid with 9 fixed paylines and the Wild West theme, but introduces a revolutionary choice: 3 different Free Spin modes, each with dramatically different risk/reward profiles.

The game's defining characteristic is its 111,111x maximum win — the highest in the Galaxy of Slots collection. This is achievable exclusively through the High Noon Saloon Free Spins mode, where Sticky Wilds carry 2x or 3x multipliers that multiply together across paylines. The probability of hitting the absolute maximum: approximately 1 in 142 million spins.

With Very High volatility (rated 9.9 out of 10 on NetEnt's scale) and a 29.8% hit frequency, Dead or Alive 2 is designed for players who accept dry spells in exchange for the possibility of extreme payouts. Where Starburst (Low volatility, 800x, 23% hit frequency) delivers constant small wins, Dead or Alive 2 concentrates a significant portion of its returns in bonus rounds — 68.6% of the RTP comes from the base game and 28.2% from Free Spins.

Each reel features a unique outlaw Wild character: Apache Kid (reel 1), Della Rose (reel 2), Jesse James (reel 3), Belle Starr (reel 4), and Billy the Kid (reel 5). During Free Spins, these Wilds become Sticky — and in High Noon Saloon, they gain multiplier properties that create the exponential win scaling.

A Feature Buy variant was added on May 11, 2020, allowing purchase of Free Spins for 66.66x total bet (not available in UK due to UKGC regulations). The player still chooses between the three Free Spin modes after buying.

What Are the Key Numbers for Dead or Alive 2?

The 3.18% house edge means Dead or Alive 2 keeps $3.18 of every $100 wagered across millions of spins. This is a mathematical certainty built into the certified paytable — no strategy, timing, or bet pattern changes it. For context, the industry average for video slots is approximately 3-5% house edge, placing Dead or Alive 2 in the competitive range at 96.82% RTP.

Dead or Alive 2's 3.2% house edge is one of the lowest in the collection, but the Very High volatility (9.9/10) means this number is almost irrelevant for individual sessions. The 96.8% RTP includes the possibility of a 111,111x win — an event so rare (1 in 142 million spins) that removing it from the calculation would drop the effective RTP by several percentage points. For a typical session of 500-1,000 spins, your actual experienced return will deviate dramatically from 96.8%.

— Galaxy of Slots Editorial Team

How Does Dead or Alive 2 Actually Work?

Dead or Alive 2 uses a 5-reel, 3-row grid with 9 fixed paylines. Wins pay left to right only. Only the highest win per payline is paid.

5 Unique Outlaw Wild Symbols

Each reel has its own unique outlaw Wild character:

Wilds substitute for all symbols except the Scatter. In the base game, each outlaw appears only on its assigned reel. Wilds have their own payline payouts — the highest in the game: 2.77x / 16.66x / 166.66x for 3/4/5 of a kind.

Scatter Symbol (Crossed Revolvers & Cattle Skull)

The Scatter pays anywhere on the reels (not positional) and also triggers Free Spins:

The 3 Free Spin Modes

When 3+ Scatters land, you choose one of three modes. This choice is permanent for that round. All modes start with 12 Free Spins. The Scatter payout is awarded in addition to the Free Spins.

Core Features

• 3 Free Spin Modes (player choice)
• Sticky Wilds
• Multiplier Wilds (High Noon: 2x/3x)
• Train Heist Progressive Multiplier
• 5 Unique Outlaw Wilds
• 9 Fixed Paylines
• Feature Buy (66.66x, separate variant)

What Does Each Symbol Pay in Dead or Alive 2?

All payouts expressed as multipliers of total bet (at bet level 1 with 9 paylines). The game has 5 high-paying thematic symbols, 5 low-paying card rank symbols, plus Wild and Scatter.

High-Paying Symbols

Low-Paying Symbols (Card Ranks)

Wild and Scatter

Max win path: High Noon Saloon mode → all 15 grid positions filled with Sticky Wilds → 3 Wilds stacked on each reel become 3x Multiplier Wilds → a payline through 5 reels of 3x Wilds gets 3×3×3×3×3 = 243x applied to the 166.66x Wild line pay → the game cap of 111,111x total bet is reached.

How Do Free Spins Trigger and Pay?

Free Spins trigger when 3 or more Scatter symbols land anywhere on the 5x3 grid. The trigger frequency is approximately 1 in 195 spins (0.51%). At $0.09/spin (minimum bet), you will wager roughly $17.55 between bonuses on average.

Mode 1: Train Heist (Lowest Volatility)

12 Free Spins with a progressive multiplier system. Every Wild that lands anywhere on the reels:

• Increases the multiplier by +1 (starts at 1x)
• Awards +1 extra Free Spin
• Wilds are NOT Sticky in this mode

When the multiplier reaches 16x, a bonus of 5 additional Free Spins is awarded (on top of the +1 for the Wild that triggered it). The multiplier can exceed 16x if more Wilds land. The multiplier applies to all wins for the remainder of the feature. Maximum potential: up to 100,000x total bet (per NetEnt).

Mode 2: Old Saloon (Medium Volatility)

12 Free Spins designed as a tribute to the original Dead or Alive (2009):

• All Wilds are Sticky — they lock in place for the duration
• 2x multiplier applies to ALL wins throughout the feature
• When at least one Sticky Wild appears on each of the 5 reels, +5 extra Free Spins are awarded (once)

The escalating grid of Sticky Wilds creates progressively better winning chances as more spins occur. The fixed 2x multiplier doubles everything.

Mode 3: High Noon Saloon (Highest Volatility)

12 Free Spins with the extreme mechanic responsible for the 111,111x max win:

• All Wilds are Sticky
• Multiplier Wilds: when 2 Wilds accumulate on the same reel, both become 2x Multiplier Wilds. When 3 Wilds fill a reel, all become 3x Multiplier Wilds
• When a winning line passes through multiple Multiplier Wilds, their multipliers multiply together (e.g., 2x × 3x = 6x; 3x × 3x × 3x = 27x)
• When all 5 reels have at least one Wild, +5 extra Free Spins are awarded

With a full grid of 3x Multiplier Wilds on all 5 reels, a single payline receives 3×3×3×3×3 = 243x multiplier on top of the symbol payout.

Retrigger

Landing 3+ Scatters during any Free Spin mode awards additional spins. Retriggers can occur multiple times.

Feature Buy Variant

A separate game variant ("Dead or Alive 2 Feature Buy") was released on May 11, 2020. It allows purchasing Free Spins for 66.66x total bet. The player still chooses between the three modes after buying. Not available in UK (UKGC regulations prohibit bonus buy features).

The choice between Free Spin modes in Dead or Alive 2 is one of the purest risk/reward decisions in slot design. Train Heist with its progressive multiplier provides the most predictable returns. Old Saloon's Sticky Wilds with a flat 2x multiplier creates solid middle-ground value. High Noon Saloon's exponentially stacking multiplier Wilds can produce returns from near-zero to 111,111x. The expected value across modes is similar — the variance difference is enormous. Choose based on your risk tolerance, not someone else's recommendation.

— Galaxy of Slots Editorial Team

Are the Buy Feature and Ante Bet Worth Your Money?

The original Dead or Alive 2 (April 2019) does not have a Buy Feature. However, a separate variant — Dead or Alive 2 Feature Buy — was released on May 11, 2020.

The Feature Buy costs 66.66x total bet and guarantees Scatters on reels 1, 2, and 3 (with the possibility of 4th and 5th Scatters appearing naturally). The player still chooses between the three Free Spin modes after purchasing. This variant is not available in the UK due to UKGC regulations that prohibit bonus buy features.

The 66.66x buy cost is moderate compared to other games: Gates of Olympus (100x Buy), Wanted Dead or a Wild (80x-400x Buy). Given the average Free Spin trigger frequency of ~1 in 195 spins, the Feature Buy provides a premium over the organic trigger cost (statistically ~195 × bet = ~195x worth of spins to trigger naturally).

Whether the Feature Buy is worth it depends on the mode you intend to choose and your bankroll. The mathematical expectation remains the same — the buy simply removes the variance of the trigger wait.

What Does the Math Mean for Your Bankroll?

Dead or Alive 2's 3.2% house edge (at 96.8% RTP) is actually one of the best in the Galaxy of Slots collection. The RTP is a single fixed version — operators cannot configure it lower, which is a significant advantage compared to configurable-RTP games like Starburst (down to 90.05%).

RTP Breakdown (from NetEnt official)

This ~69/28 split means the base game contributes the majority of returns — more balanced than many High-volatility slots where bonus rounds dominate. However, the Very High volatility (9.9/10) means individual session results will deviate enormously from the theoretical average.

Bankroll dynamics:

• 29.8% hit frequency means roughly 3 in 10 spins produce some return (~every 3.4 spins)
• Free Spins trigger approximately every 195 spins
• Bet range: $0.09 to $9.00 (or $18.00 at some casinos)
• At $0.09/spin: ~$17.55 average between bonus rounds
• The 111,111x max win creates extreme right skew in the return distribution

The max win probability is approximately 1 in 142 million spins. This means the mathematical possibility of a 111,111x win is what maintains the 96.8% RTP — without it, the effective RTP for typical sessions would be lower. For most players over most sessions, the practical experienced return will differ significantly from 96.8%.

Recommended minimum bankroll: At least 300-500x your bet size. At $0.09/spin, that is $27-$45 minimum — enough to survive the wait for 1-2 bonus triggers on average.

Where Do the Wins Actually Come From?

Dead or Alive 2's win distribution shows a ~69/28 split between base game and Free Spins, which is more balanced than many ultra-high-volatility competitors.

Key probability anchors (from official NetEnt data and verified third-party sources):

• Hit frequency: 29.8% (~30%) — roughly 1 in 3.4 spins produces some return
• Free Spins trigger: ~1 in 195 spins (0.51%)
• Volatility rating: 9.9 out of 10 (NetEnt's internal scale — near maximum)
• Max win probability: ~1 in 142,194,762 spins
• RTP from base game: 68.6%
• RTP from bonus: 28.2%

The 29.8% hit frequency is actually quite reasonable — higher than Sweet Bonanza (~22%) and comparable to Book of Dead (~29%). The "Very High volatility" designation comes not from the hit frequency but from the extreme spread between minimum and maximum wins. A game where the smallest return is a fraction of your bet and the maximum is 111,111x your bet has enormous mathematical variance, even if wins occur relatively often.

The volatility also varies dramatically by Free Spin mode: Train Heist provides the most consistent returns, Old Saloon is moderate, and High Noon Saloon is where the extreme variance lives. Choosing High Noon every time creates a Very High volatility experience; mixing in Train Heist rounds produces a more moderate overall profile.

Bankroll Scenario Table

Expected loss assumes 96.82% RTP (3.18% house edge). "Cost to First Bonus" is the average expected wagering ($bet × 257 spins) — actual results vary enormously due to Very High volatility. See our slot glossary for term definitions.

The 29.8% hit frequency in Dead or Alive 2 is often surprising to players who expect a Very High volatility game to feel "empty." Nearly 3 in 10 spins produce some return. The extreme volatility comes not from hit frequency but from the massive gap between typical wins (small base game payouts) and the theoretical maximum (111,111x). Most of the day-to-day experience is small wins and gradual bankroll erosion, punctuated by occasional Free Spin rounds that can return anywhere from 5x to 50,000x+.

— Galaxy of Slots Editorial Team

How Does Dead or Alive 2 Compare to the Competition?

Dead or Alive 2 competes in the ultra-high-volatility segment — games designed for players who accept extreme risk for extreme potential:

What Makes Dead or Alive 2 Unique?

• Highest max win in the collection — At 111,111x, Dead or Alive 2's ceiling dwarfs everything else. The next closest is Immortal Romance at 12,150x — nearly 10x lower.
• Player choice of volatility within one game — The 3 Free Spin modes let you choose your risk level. Train Heist plays safe with progressive multipliers. High Noon Saloon plays like an extreme lottery ticket. No other game in the collection offers this degree of player agency over volatility.
• Multiplicative Sticky Wild multipliers — In High Noon Saloon, multiple Wilds on one reel upgrade to 2x (2 Wilds) or 3x (3 Wilds), and paylines passing through multiple multiplier Wilds multiply together exponentially (3x × 3x × 3x × 3x × 3x = 243x). This exponential scaling is what enables the 111,111x ceiling.
• Fixed RTP at 96.8% — Unlike configurable-RTP games, every casino runs the same math. Combined with the 111,111x ceiling, this makes DOA2 one of the best-value ultra-high-volatility games available.
• 5 unique outlaw Wilds — Each reel has its own character Wild (Apache Kid, Della Rose, Jesse James, Belle Starr, Billy the Kid), adding thematic depth to the sticky Wild mechanics.

Dead or Alive 2 vs the original Dead or Alive (2009): The original has a single Free Spin mode with Sticky Wilds and an 8,600x max win (per NetEnt official). DOA2 adds 2 additional modes and increases the max win to 111,111x. The RTP is similar (96.82% vs 96.8%). Both are Very High volatility (9.9/10). Choose the sequel for more options and higher potential; the original for a simpler, single-mode experience.

Are Dead or Alive 2 Predictor Apps Real?

Dead or Alive 2's extreme max win makes it a prime target for clickbait and scam content:

"Dead or Alive 2 Predictor" / "High Noon Saloon Hack"

These do not exist. The RNG determines all outcomes, including which reels receive Wilds and whether multipliers become 2x or 3x during High Noon Saloon. No app, timing technique, or bet pattern can predict or influence these results.

"Always Choose High Noon Saloon for Best Returns"

Misleading. High Noon Saloon has the highest maximum potential (111,111x) but many rounds produce few Wilds and minimal payouts. Old Saloon's fixed 2x multiplier on all wins provides more consistent returns per bonus round. The mathematically optimal choice depends on your risk tolerance, not a universal "best" mode.

"The 111,111x Win Has Been Hit Multiple Times"

The probability of hitting exactly 111,111x is approximately 1 in 142 million spins. Claims of max wins should be verified through licensed casino records. Verified wins above 50,000x are exceptionally rare. Most High Noon Saloon rounds return in the 10-500x range.

"Dead or Alive 2 Pays Differently at Different Casinos"

False for the RTP. Dead or Alive 2 uses a single fixed 96.8% RTP that operators cannot change. However, bet limits may vary between casinos ($9 max at some, $18 at others). The math is identical everywhere.

Common Myths Debunked

• "Dead or Alive 2 remembers which mode you chose last time" — False. Each bonus round is independent. The game has no memory of previous Free Spin modes selected. The RNG operates identically regardless of your past choices.
• "High Noon Saloon pays more if you haven't hit a bonus in a long time" — False. Bonus round outcomes are determined by the RNG at the moment of each spin, not by previous session history. A player who triggers Free Spins after 500 dry spins has identical probabilities to one who triggers after 50 spins.
• "The 96.8% RTP applies equally to all three modes" — The overall game RTP is 96.8%, reflecting the weighted average across all possible player behaviors. Individual mode RTPs are not published separately by NetEnt. The RTP breakdown is 68.6% base game + 28.2% bonus = ~96.8% total.
• "Only playing at max bet can hit the 111,111x" — False. The max win multiplier (111,111x) is identical at all bet sizes. A $0.09 bet can achieve 111,111x ($10,000) just as a $9.00 bet can ($999,999). The multiplier is bet-independent.
• "The hit frequency is around 16-17%" — This is a widely circulated error. The correct hit frequency is 29.8% (NetEnt official: ~30%). This means roughly 3 in 10 spins produce some return — the game is not as "empty" between wins as the false 16.84% figure would suggest.

Who Is Dead or Alive 2 Actually For?

Dead or Alive 2 is designed for players who explicitly seek extreme variance and the highest possible win ceiling. It is not a casual slot — it is calibrated for maximum risk/reward.

Choose Dead or Alive 2 if:

• You want the highest max win in the Galaxy of Slots collection — 111,111x, nearly 10x higher than the next game
• You enjoy choosing your own volatility level — Train Heist for safety, High Noon Saloon for extremes
• You have sufficient bankroll for Very High volatility — at least 300-500x your bet size
• You value fixed RTP — 96.8% at every casino, no configurable lower versions
• You accept that most sessions will be net negative, compensated by occasional large wins
• You appreciate the Wild West aesthetic and NetEnt's legacy franchise with its unique outlaw characters

Consider alternatives if:

• Similar theme, Buy Feature available: Wanted Dead or a Wild (12,500x, Buy Feature from 80x-400x) — Wild West theme with the ability to buy into bonus rounds directly
• High volatility but more frequent bonuses: Book of Dead (5,000x, ~1/177 trigger) — bonus triggers more often with a still-significant win ceiling
• Multiple bonus modes with narrative: Immortal Romance (12,150x, 4 progressive modes) — story-driven Free Spin modes that unlock over time
• Lower volatility entry point: Gonzo's Quest (2,500x, Medium-High volatility) — consistent tumble-based returns without extreme dry spells
• Predictable returns: Starburst (800x, Low volatility) — the mathematical opposite of Dead or Alive 2

Other NetEnt Games

Explore more guides from NetEnt:

• Starburst — 96.09% RTP, Low volatility, 500x max win
• Gonzo's Quest — 95.97% RTP, Medium volatility, 2,500x max win

Frequently Asked Questions About Dead or Alive 2