Loot Rounds are extra rounds of neutral enemies that players fight against. When these rounds end, players are offered three items to choose from (4 items if the player has 
Embarrassment of Riches).
If the player loses the round, they are offered items from the pool one wave lower. If the player has Smuggler, they are offered items from the pool one wave higher.
The difficulty of the waves increases with each round but the quality of the items offered are also higher.
Item drop rate table
| Round | # | Tier One | Tier Two | Tier Three | Tier Four | Tier Five |
|---|---|---|---|---|---|---|
| Warmup | 1 | 100% | ||||
| Sparring Match | 2 | 80% | 20% | |||
| Gear up | 3 | 70% | 30% | |||
| First Intermission | 10 | 20% | 80% | |||
| Dog and pony show | 15 | 70% | 30% | |||
| Bear Trap! | 20 | 30% | 70% | |||
| Survival of the fittest | 25 | 70% | 30% | |||
| Big dinos, big rewards | 30 | 50% | 50% | |||
| Things are heating up | 35 | 20% | 80% | |||
| You're about to be trolled | 40 | 70% | 30% | |||
| We've reached the endgame... | 45 | 50% | 50% | |||
| OK, NOW we've reached the endgame... | 50 | 40% | 60% | |||
| OK, NOW we've reached the endgame... #2 | 200 | 20% | 80% |
Warmup
| “ | Alright boys, I'm not gonna lie: the chances of you surviving this are pretty low. | „ |
| ~ In which Grek motivates his talent |
Warmup happens on the first round.
Enemies
Item drops
- 100% chance of Tier One items.
Sparring Match
| “ | One hero? They got a chance. 2 heroes? No way in hell. | „ |
| ~ In which Grek acknowledges his fighter's limits |
Sparring Match happens on the second round.
Enemies
Item drops
- 80% chance of Tier One items.
- 20% chance of Tier Two items.
Gear up
| “ | Ya know what, just send the rest of 'em, maybe we can win the numbers game. | „ |
| ~ In which Grek makes a last ditch effort |
Gear up happens on the third round.
Enemies
Item drops
- 70% chance of Tier One items.
- 30% chance of Tier Two items.
First Intermission
| “ | You think a sword can get through that armor? Magic, sure. But steel ain't doing much to these bad boys. | „ |
| ~ In which Grek likes what he sees |
First Intermission happens on the 10th round.
Enemies
Item drops
- 20% chance of Tier One items.
- 80% chance of Tier Two items.
Dog and pony show
| “ | See that's what I'm talkin' about! They were so focused on the wolf in front they weren't ready for the wolves that came from behind. | „ |
| ~ In which Grek comments on a gladiator getting mauled |
Dog and pony show happens on the 15th round.
Enemies
- 1 Big Wolf
- 2 Small Wolves
Item drops
- 70% chance of Tier Two items.
- 30% chance of Tier Three items.
Bear Trap!
| “ | Naw naw... Tomato's the tough one, Potato's the smart one. But you watch: when one of these hellbears goes down, the other gets downright mean. | „ |
| ~ In which Grek talks hellbears |
Bear Trap! happens on the 20th round.
Enemies
Item drops
- 30% chance of Tier Two items.
- 70% chance of Tier Three items.
Survival of the fittest
| “ | These guys are harder to hit than they look. I can't tell you how many crews I've seen get eaten because they thought a couple axes would get the job done. | „ |
| ~ In which Grek has faith in his crew |
Survival of the fittest happens on the 25th round.
Enemies
Item drops
- 70% chance of Tier Three items.
- 30% chance of Tier Four items.
Big dinos, big rewards
| “ | You know how fast Thunderhides heal? If you can't finish things quick, you better be ready for a long haul... anything in between and you're as good as dead. | „ |
| ~ In which Grek comments on the survivability of Thunderhides |
Big dinos, big rewards happens on the 30th round.
Enemies
Item drops
- 50% chance of Tier Three items.
- 50% chance of Tier Four items.
Things are heating up
| “ | I hope they clump together, the dragon eats em a lot faster when they clump together. | „ |
| ~ In which Grek is short on time |
Things are heating up happens on the 35th round.
Enemies
Item drops
- 20% chance of Tier Three items.
- 80% chance of Tier Four items.
You're about to be trolled
| “ | One way or another this thing is gonna be over quick. | „ |
| ~ In which Grek squeezes in a fight between meetings |
You're about to be trolled happens on the 40th round.
Enemies
Item drops
- 70% chance of Tier Four items.
- 30% chance of Tier Five items.
We've reached the endgame...
| “ | Armor won't save 'em. The year beast's claws can slice through anything. | „ |
| ~ In which Grek is overconfident |
We've reached the endgame... happens on the 45th round.
Enemies
Item drops
- 50% chance of Tier Four items.
- 50% chance of Tier Five items.
Correction, NOW we've reached the endgame...
| “ | If you think Shadow Shaman can bring his chicken shenanigans to this fight I got bad news for ya. Magic doesn't do a damn thing to Roshan. | „ |
| ~ In which Grek bets on a sure thing |
Correction, NOW we've reached the endgame... happens on the 50th round.
Enemies
- 1 Roshan
Item drops
- 40% chance of Tier Four items.
- 60% chance of Tier Five items.
OK, NOW we've reached the endgame... #2
OK, NOW we've reached the endgame... #2 happens on the 200th round, which is not mentioned in the game.
Enemies
- 1 Roshan
Item drops
- 20% chance of Tier Four items.
- 80% chance of Tier Five items.