Those rebate promos could save a bit of your gambling money, but it's never the smart move if your objective is the other way around. You already mentioned that it's included in their VIP programs, and you have to play a lot before you become eligible for those rebates.
If you want to play while trying to save up, then you should go for those risk-free types of promos. They're one of the better promos, but it's mostly like a welcome offer to their new players.