Still a very good deal in case you are one of the picked participants. 0.02 BTC (about $1,000) is mouth watering, 
the only challenge is we don't know much about the wagering requirements for the promotional offer, which could either be extreme or not.
The reward is 0.20 BTC not 0.02 BTC. There's a huge gap in this the only challenge is we don't know much about the wagering requirements for the promotional offer, which could either be extreme or not.
There will be no wagering requirement for this 0.20 BTC winning as far as I know but let the representative confirm.
Since there's bonus offered and there's limit on the bonus, KYC will be asked on case basis when MetaWin will find someone suspicious. Imagine someone abusing with 100 0.002 deposit to win the prize. It's possible so KYC can also be asked.