I think this is going to end in a draw.
Also I'm the only one who think the author is really over using the 'Kaioken-like technique that destroy your body as a final power up'? He's been using it more and more since the Zeus fight.
Like at this point you have Zeus, Heracles and now both Shiiva and Raiden, that's a lot of fights with almost the same conclusion / technique so far.
Also I like Raiden, he's a good guy who take full advantage of life's pleasure and doesn't start having a heart attack after seeing some boobs. Though I guesse out of the two, he care the least about dying after using his full power since Shiiva has his friends, wives and children but then again, Raiden dying would also kill the Valkyrie.
Also I call bulshit on the 'Hel' thing at this point, Given the sheer numbers of motherfuckers that got sent there and how powerful they were, they are probably gonna find an escape or something even if the narration halfway said it was worst than normal death (after all, Tartarus is the same and you see motherfuckers leave that place all the time in greek myths.). That and it's basicaly the only way to continue the manga beyond the tournament unless the author doesn't want to keep going.