If my calculations are correct, I would have to wager 200 times my deposit to release 100% of my bonus. Is that correct?
No, The bonus you can release is a function of the odds of your bets as well.
You can read the details on the website.
According to the website, every time you make a bet, a point is calculated and your point can be converted to BTC.
Your point is calculated as follows.
Point = B * 10,000 * (X0.5-1)B = bet amount (at BTC)
X = odds, if odds isn't bigger than 4.
X = 4, if odds is bigger than 4.
You can claim 0.001 BTC for every 400 points.