Yeah, that's another issue. I was looking at this as "their business model is to lose money to get people hooked, but if I don't get hooked, I'm just taking money from an evil business."

But that ~$200 loss is subsidized by the people who do get hooked. The fact that they offer $200 in bonus bets means they're expecting to extract at least $200 from every person who takes the bet to break even, which is a mind-boggling amount to spend to gamble.