Use this card with "Dueltaining" and "Second Coin Toss". When your opponent attacks, you will flip a coin 6 times, meeting "Dueltaining's" 4th condition. And if you manage to get 3 heads the second time, you will draw a total of 5 cards.
If you get 3 tails in this card's coin toss, you could chain "Trap Stun" and negate the effect that would destroy this card and provoke the austere LP loss. This is quite a handy strategy, though, as your opponent would be unable to use Trap Cards for one turn due to "Trap Stun"
Since its effect will trigger from its destruction, you can use cards like "Emergency Provisions" to send this card to the Graveyard instead.
Note that if you chain "Emergency Provisions" to this card's effect, its effect won't be applied since Continuous Trap Cards must remain on the field to resolve.
You can also use "Magic Planter" to remove this card and draw more cards, without suffering from its the ill effects.
This card is a great Draw Engine, but only when the coins are in your favor. With three coins at a 50% chance, you have a 12.5% chance (or 1-in-8) of drawing per attack... and a 12.5% chance of losing this card and taking a 6000 LP loss...