A 200% deposit bonus works on the same principle as a 100% deposit bonus. A site that offers a 200% deposit bonus will take your initial deposit, double it and add that amount in cash or credit into your casino or sportsbook account. For example, if you deposited $100, then a 200% deposit bonus will award you $200 as your deposit bonus. Other operators, like PointsBet Casino, take a different approach, awarding a 200% refund in the form of free spins up to $800.