I think Iraq has a better chance of winning.
Iran has launched multiple attacks on Iraq, and Iraq has also launched counterattacks against Iran. The war was fierce, and Iran lacked weapons and equipment due to the arms embargo and sanctions imposed on Iran by Western countries led by the United States. To make up for this shortfall, Iran has desperately expanded its fighting force. Iran's Islamic Revolutionary Guard Corps draws its strength from oppressed militias known as Basques. This army was the first step in the 20 million men and women that Khomeini mustered to ensure the victory of the Islamic Republic. The paramilitary group has begun to play an important role in continuing the fighting. The budget-conscious and demoralized regular army was limited to certain guidance and support roles. Despite a lack of training and equipment, the vast majority of young men volunteered to fight in the war, but they were incited by the clergy to display religious fanaticism.
The clergy inspired them to fight in religiously symbolic battles, such as the road to Jerusalem or certain victories. They also comforted them that if they died or were injured in the future, the government would support them or their relatives through the Martyrdom Fund. They volunteered to attack with naval tactics or march on foot to clear minefields that repeatedly shocked, disoriented and overwhelmed Iraqi forces. The Iraqi army countered Iran's sea-population tactics with gas attacks. It caused heavy casualties in Iran, and in the end, Iran, which relied on spiritual beliefs and human tactics, failed to defeat Iraq. Instead, Iraq, which had received substantial foreign aid, turned against Iran after February 1988 and re-entered Iran.
Years of war have severely weakened Iran's economy, emptied its arsenal, lost its military, lacked foreign aid, and added to its ranks of leaders and factions. The harsh reality forced Khomeini to change his attitude, and Iran finally accepted the resolution passed by the United Nations Security Council in July 1987 for an immediate ceasefire between Iran and Iran in order to resolve the dispute through negotiations. Iraq hopes for a decent end to the war and has always agreed to the resolution. Under the mediation of the United Nations, Iran and Iraq formally ceased fire on August 20, 1988, ending eight years of brutal killings.