Well, even if they really mean 1x bonus + deposit, it STILL SUCKS. You can deposit up to $200, and this gives you $40. The BEST you can do then is win 1x the bonus during play, yet you are risking a disproportionate amount of your own money to do so. They ALSO expect players to be playing SLOTS, so this really is a no win situation for the player because of the variance. many who win will exceed by far the max cashout, but most who take up the offer will fail to meet the onerous WR and bust out.
This really IS, like another poster commented recently, a "deposit penalty" rather than a bonus.
DON'T TAKE IT!!!!