House of the Dragon season 3 is coming to an end, and there are a few characters who have a lot more to lose than the rest.
I'm not talking about their lives, necessarily, either. While those are definitely at risk, some characters have put all their chips on the table heading into the House of the Dragon season 3 finale. Now, it's time for each of the players in this "game of thrones," if you will, to flip the cards over and see who wins this hand.
We've been building toward an epic showdown at Tumbleton since early in the season when Ormund Hightower (James Norton) led his full force into the city. This is much different than what actually happened in George R.R. Martin's Fire & Blood. Now, it's time to find out where Ryan Condal and the writers have been leading us.
Queen Rhaenyra Targaryen
There's no doubt that Rhaenyra Targaryen (Emma D'Arcy) has more to lose in the House of the Dragon season 3 finale, but she also has the most to gain in some respects, as well. Rhaenyra took the Iron Throne with ease earlier this season, but it's been impossible to hold that power.
Ormund has been causing chaos in the streets of King's Landing. He's captured Corlys Velaryon (Steve Toussaint), Rhaenyra's hand. To make matters worse, Rhaenyra has not been able to kill Aemond (Ewan Mitchell) or Vhagar. She believes Aegon (Tom Glynn-Carney) to be dead, but we know that he is not. In fact, he's better than ever after Sunfyre comes back from the dead.
It's not just about the power struggle for Rhaenyra, though. She still has her dragons. Even if she loses at Tumbleton or is unable to sway the people of the city and the noble houses around the Seven Kingdoms, Rhaenyra has the power to regain her footing and take control. Clearly, though, she is doubting herself. Her mental health is spiraling. With another major turning point ahead, will she be able to keep her wits? Or will she descend farther from her calling to rule? We shall see.
Aegon II Targaryen
Heading into episode 7, it seemed like Aegon had basically nothing to lose. He was basically left for dead, surrounded by enemies, and ready to die. Now, Aegon has everything to gain, and that means the former king has everything to lose.Â
Somehow, Sunfyre survived and arrived at that perfect time to save Aegon’s life. Perhaps it was the threat of imminent death that woke Sunfyre.Â
We still don’t know what Aegon’s next move will be. In the book, he stays relatively unknown until a very pivotal moment, but it will be interesting to see just how the series handles Aegon’s future. He's been knocking at death’s door for a long time. Will he make the most of his lease on life, or will he do something dumb? We will find out soon!
Daemon Targaryen
If there's one character I'm disappointed in this season, it's Daemon (Matt Smith). My guy has always been one to fly off the handle and play by his own rules, but this season, he's been making mistake after mistake. It's yet to really come back to bite him, although you could argue this mess with Rhaena (Phoebe Campbell) and Sheepstealer might be his undoing.
Still, Daemon is accomplished on the battlefield. He doesn't lose, but he's going to face a massive challenge against Ormund and the Hightower army at Tumbleton. This is a big change from the book because Daemon isn't at Tumbleton in Fire & Blood. If they are willing to change a major battle like this, would Ryan Condal and the writers be willing to make a bold change to Daemon's fate?
I don't actually think that Daemon is going to die, but if he's gravely injured or something, Rhaenyra will be even more alone than she is now. Daemon finally got his position of power back in King's Landing, but he's sure having a hard time keeping it.
Ormund Hightower
Rhaenyra and Aegon have the most to lose because they have the most possible gain. Ormund already has it all, basically, though, and that’s why he is on this list.Â
Ormund is a character who had everything in Oldtown. Literally, the Hightowers are the richest in the realm. He could have just allowed Rhaenyra to be queen and then worked in the shadows for years to stop her from accomplishing her goals. He has enough money and power and influence to drag this civil war out for years, and he threw it all away to make a stand at Tumbleton.
It’s very interesting that the show chose to present Ormund’s dilemma this way. In the book, Ormund and the Greens are actually the ones attacking Tumbleton, not the ones who are trying to hold Tumbleton. That’s changed the stakes for Ormund. He’s really gotten himself in a dilemma. He has a plan, but will it work out? If it goes, he’s going to be on the fast track to controlling the king (Daeron). If it doesn’t, Ormund will lose everything, including his lunch.
Hugh Hammer
We’ve spoken a lot about the highborn so far. Now, we should talk about those who have ascended classes but still aren’t in the club. Hugh Hammer (Kieran Bew) is one of those characters.Â
Hugh abandoned his wife, Kat, to become a dragonrider. It was his only way out of the hard life they were living, but it appears he threw away the one thing that was, at some point in time, the only thing that mattered to him. He snuck into Tumbleton to rescue Kat, and she basically rejected him.
For the first time in his life, Hugh has influence, power, and standing, but what does it mean? Does it mean anything to him? We're about to find out, I think.
Hugh has a very significant role in the First Battle of Tumbleton in Fire & Blood, but it’s going to be interesting how it plays out in the show. Hugh has already shown he’s willing to play a little loose with Rhaenyra’s rules. He already snuck into Tumbleton behind the queen's back. What else would he do to serve himself?
Ulf White
Finally, we have Ulf the White, who has been absolutely mistreated by Rhaenyra and Daemon in this season. Ulf has never been the most admirable character, but he's a simple man. He just wants a little bit more ale and time with his boys and girls. Instead, he's stuck in the middle of a war that he doesn't care about, being treated like a prisoner for a queen who doesn't respect or care for him.
At the end of episode 7, Ulf was being wooed by Ormund. With the upcoming battle ahead, Ulf holds the keys in a lot of ways to how the rest of this story plays out. If he does what Ormund wants him to do, Ulf could pull off a huge surprise, which puts him in the position of a lot of these characters. He could lose everything, which is likely, but he could also gain a lot of power and status, too, if he plays his cards right.
Still, Ulf has a lot of power right now. He's better off than 99% of the people of Westeros. Is he really going to risk all of that over some ale and promises from Ormund? I know what happens in Fire & Blood, but the source material has not stopped these writers from making big changes to this story.
So, heading into the season 3 finale, those are the six characters who have the most to lose. All of these characters have a lot of power. Had we not been tipped off that Tumbleton was going to happen heading into the episode, I might have included some of the other Targaryens and Hightowers.
To Tumbleton, we go! We'll see you on the other side of the House of the Dragon season 3 finale on Sunday, Aug. 9, at 9 p.m. ET!
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