In a "Red-Eyes Darkness Dragon" Deck, this card's full potential can be reached with ease. If you call the coin toss right, the contents of your opponent's Graveyard will all be banished. This is ideal if your deck contains "Gandora Giga Rays the Dragon of Destruction", due to the boost in ATK it will receive. If you call it wrong, several Dragons will be sent to the Graveyard in order to power up "Red-Eyes Darkness Dragon." This also means that in the event that the latter is defeated(Or that your opponent is running a Zombie World deck)and your Graveyard contains all 3 Gandoras, you can empty the field and Graveyards to drastically increase the former's ATK and possibly perform a One Turn Kill.
This card can work well in a "Lightsworn" Deck during a mirror match. You can remove your opponent's Graveyard if you call it right. It can be deadly for a "Lightsworn" to have their whole Graveyard removed from play. But if you call it wrong, then you can send lots of cards from your own Deck and it's still good for a "Lightsworn" deck to send lots of cards. But be careful while using this card, because you don't want to use it when your opponent has too many cards in his Graveyard. If you call it wrong and your opponent has lots of cards in his Graveyard, then there's a risk for you to deck out yourself.
This card can also work well in a "Dark counterpart" Deck, since it can mill your deck and give you more DARK monsters in the Graveyard for "Dark Armed Dragon", considering that you Summoned him beforehand.
Also, this card can be used against the same Dark Counterpart deck. If you call it right, you can completely halt the deck's Graveyard strategy late in the duel.
If you're feeling lucky, you can include this card in a "Macro Cosmos" deck that uses removal to power its attackers. In both outcomes, you may gain an advantage. If timed correctly, either your own cards are removed from play, which you want, or your opponent's are removed.
You could potentially set up a win/win situation with this card. Have a card like "Banisher of the Light" sending cards out of play instead of the Graveyard. If you call it right, send lots of his cards to the Graveyard, then activate "D.D. Dynamite" and deal massive damage. If you call wrong, send tons of cards out of play thanks to "Banisher of the Light", then Summon "Gren Maju Da Eiza", and he will gain massive attack thanks to his ability. If you have "Soul Absorption" on the field, you will gain massive life points either way.
This card is perfect for a deck that uses "Neo Flamvell" monsters, as you can either remove cards in your opponent's Graveyard to Special Summon "Neo Flamvell Origin" (if you control another face-up "Flamvell" monster, of course) or increase "Neo Flamvell Sabre"'s ATK by 600, or send cards from your deck to the Graveyard so that you can swarm with "Rekindling", negate spell or trap cards with "Flamvell Counter" or even activate "Neo Flamvell Shaman"'s effect to remove a card from your opponent's Graveyard and inflict 500 damage to them (in case they don't have spell cards in their Graveyard).
If luck is with you, this card is ideal for killing "Vennominaga the Deity of Poisonous Snakes". While not exactly foolproof, it can give you a fifty/fifty chance of defeating "Vennominaga" once and for all with just about any monster in your deck.
This card can work very well in "Dragunity" decks, since they love sending their own monsters from the deck to the Graveyard. No matter which effect you get, chances are it will help your strategy along.
In an "Infernoid" deck, calling the coin toss wrong will allow you to fill your Graveyard with "Infernoid" monsters that you can banish in order to meet the summoning requirements of "Infernoid" monsters in your hand.
This card works well with "Exchange of the Spirit", regardless of calling it right or wrong. But, like above, you might lose "Exchange of the Spirit" in the process.
This card is best used with "Fiber Jar". If you call it right, you can flip "Fiber Jar" face-up, and your opponent will have no cards in his/her Graveyard to shuffle back into his/her deck. If you call it wrong, it doesn't mean anything, as "Fiber Jar" will send all the cards that were sent to the Graveyard by this card back to your deck.