Eyes are glued to three glimmering coins as they are tossed out of the kip, tumble through the air and land in the ring.
It's called, heads or tails, the crowd erupts in raucous cheer.
The game, which is played only on Anzac Day each year and began in the World War One trenches, was alive and well in the capital on Tuesday.
Drizzle did not put a dampener on the action. Not long after the Anzac Day National Ceremony, metres from the Australian War Memorial, punters were having their cash in crowds three and four deep at Olims Bar and Bistro.
Ringie John Scott has been managing the game at Canberra venues for the past 24 years and takes each spinner through the rules and throwing style before a toss.
"We ask them 'have you done it before?', we give 'em a test run with one coin and when they do spin there is three coins so you will have a result each time."
He said it was all in the wrist. A spinner should raise the kip up and turn their wrist inward so the coins spun out.
Venue manager Patina Farnham said staff had been welcoming in spectators, diggers and service people since 6am and at midday she was expecting more than 7000 schooners to be sold by sundown.
"It is one of the biggest days of the year for us," she said. "We probably have 40 staff on today. At 3pm we have reinforcements come and these ones get to go home and then we have round two to come in to work the night."
US Army Command and General Staff College Instructor Matthew Prescott was travelling with a contingent of 14 students and a fellow instructor.
The group was moved to be invited to march in the ceremony and learn about the moving histories of diggers and traditions such as two-up.
"This is the third year in a row the exchange has come during Anzac Day," he said. "I like the way the American students are engaging with their Australian student counterparts. It's neat to see this part of the Oz culture."