Can anyone help me calculate the EV of this deal?

Only with the information, it is unbelievably good. But, there should be more rules on it. Or, the casino might be a rogue one.

If you are a beginner of online casino gaming, please, read some information here in casinolistings, before making a deposit.

to good to be true.

The best promotion I got was a 500€ vip loyalty bonus at betfair with a 10 times wagering req. which makes a player edge of 6% when playing games with a house edge of 0.04.

The math of your bonus would be:
1. 100 deposit, bj counts 100%, bj house edge is 0.005 makes:
(100+200)-(100+200)*0.005 =298.5

You could expect to loose 1.5 of the bonus.

2. 100 deposit, bj counts 10%, bj house edge is 0.005 makes:
(100+200)-(100+200)*10*0.005 =285

You could expect to loose 15 of the bonus.

3. 100 deposit, slots, house edge is 0.05 makes:
(100+200)-(100+200)*0.05 =285

You could expect to loose 15 of the bonus.
See also:
http://www.beatingbonuses.com/calc.htm
Nice page to calculate all that stuff.

The casino would give away almost 200 for free.
There must be trick.
you said: minimum withdrawal is D+B
So you can only withdraw if you did not loose money while clearing the wagering req?

Good bonuses are rarely given away.
Once in while I get a vip promotion at betfair (I have platinum level there) as good as your offer.

What casino is this through Eric?

Eric Luo wrote:

It's called free spin casino.

"Free spin" or "Free spins" (with an S on the end?). We have reviewed Free Spins Casino and it is pretty good, part of a larger group that has a bunch of casino skins with different localisations and stuff like free spins or no bonuses.

If it is "Free Spin" without an s then its new to me. I did find one with that name and its an RTG from an operator I have never come across before so my caution alarm bells are going off immediately!

The bonus is very advantageous, even if you have to break even or make a profit to withdraw. This is clearly demonstrated by a very simple scenario. Imagine depositing $100, playing with $300, and betting it all on 1 coin flip. If the bet wins, you have $600 and can withdraw ($400 if the bonus is non-cashable), but if not you lose $100. Therefore the EV of the $100 bet in this scenario is $250 if the bonus is cashable, or $150 if not. Obviously you can't play this way but the principle applies.

I would be very careful to read the T&Cs of this casino and perhaps even keep a copy. If you see anything in there about "spirit of the bonus" or "abuse" then you need to be super careful about how you play. Remember if it looks too good to be true, it probably is.

I would still go on the side of caution with these guys. They are run by Revshare Partners, which puts out the other casinos "Exclusive Casino" and "Cherry Gold". I don't know anything about them, but it looks like other reviews have been mixed. Anything with terms too good to be true are almost certainly that.