I'll add my two cents – Van actually had a favorable position: 7 Cyclopses can easily take on 32 Wood Elves, and everything else is roughly equal. This is just my opinion.

Let's analyze how easy it is.

I think it's clear that Vova had more mana (Pegasi and a Berserker were summoned).

Let's assume a Bolt spell is cast on a Cyclops right away, leaving 6.
6 Cyclopses deal damage to the Wood Elves:
(6 x (40-50) x (25-12) x (1+0.05%)) x 0.85 = 336-420
This is 5-6 Wood Elves.

In response, 25-27 Wood Elves deal damage:
25-27 x (10-14) x (1-(25-9) x 0.25%) x 1.3 x 0.85 = 165-192
Then, a Wood Elf attack kills the 6th Cyclops, and the retaliation deals about 280-350 (4-5 Wood Elves).
So, in the next round, it's 5 Cyclopses against 21-23 Wood Elves. Vova goes first again, casting a Bolt on a Cyclops, leaving 4.
These deal 224-280 (3-4 Wood Elves).
It's already clear that the next Bolt will reduce the number of Dragons to 3.

So, at the very least, it's not that simple. IMO!

Added after 34 minutes

It's already the 7th round, and some non-expert spells were cast, so I think neither player has enough mana to just spam Bolt spells.

Vova has Ice Bolt for 6 mana, dealing 210 damage.
Van, as far as I understand, has a 4th-level spell, Lightning Bolt, dealing 130 (approximately) for 12 mana.

So, if they keep casting spells, only Vova can do it. He should have 30+ mana