How do online casinos allow you to use £300 free. Dont they lose a huge amount of money on this kind of promo

How do online casinos allow you to use £300 free? For example, http://www.1st-casinos.co.uk/go.php?id=435

Dont they lose a huge amount of money on this kind of promo from people that just sign up, use the free money and then never come back? What is the typical retention rate of an online poker room or roulette game?

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