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A $200 deposit bonus is a promotional offer commonly used by online casinos and sportsbooks to attract new players. When a user makes their first deposit, the platform matches a percentage of that amount, up to $200, effectively doubling the player's initial bankroll. This bonus allows players to explore games or betting options with extra funds, increasing their chances of winning. However, it's essential to review the terms and conditions, as wagering requirements and restrictions may apply before withdrawing any winnings derived from the bonus.