This is indeed very risky, i could aswell reduce the risk splitting the amount in two to have something like 20% chance.

The goal is to have a low chance to hit a big amount then if you win it will be really easy to do your wager, while with a standard strategy you tend to slowly lose all your balance before meeting the wagering requirement.

Indeed you can hit a jackpot playing slots, but what are the chances? I think its way lower than 10%.
I would be okay with your strategy if we could calculate this.

I made an account recently on stake.com i was looking for a way to try to profit from a 200% welcome bonus.

I went on kick.com streamers took an affiliate link to have a 200% bonus on my first deposit
I deposited 200$ and got a bonus of 400$. So my balance is 600$
The requirement is to wager the whole amount 35 times so i needed to wager 600*35=21000$. (This is only on spins while on original games which have a 99% RTP your wagering is only 25% effective so i would need to wager 84000$)

My strategy was to allin on wheel game with the high risk setting and 10 segments. I could use my bonus to do so.
So in this game i have a 10% to win 9.9X my bet.
So i have a 10% chance to win and have a balance of 5940$ and a 90% chance to lose

In the 10% of cases i still need to meet the bonus requirements. So i can wager 84000$ on a 99% RTP game (like low risk plinko). I will lose on average 840$ and my balance will be 5100$ on average.

It would mean that with my deposit of 200$ i can end up with 5100$ in 10% of cases and with 0$ in 90% of cases. Which is an average of 510$.
So i have a positive excepted value of 310$?

This is a very high risk strategy, i did this and lost all but i had 10% to make a big win so it doesnt seems stupid to me.

Do you see something wrong in the whole strategy? Did i miss something?
I could try my chance one time for each casino who offer this kind of deposit bonus if they allow this strategy ?
Could it be considered as bonus abuse? (For me its not as i am only making one account)

This there really 100% no KYC casinos? In almost all i visited when you check the terms and conditions its stated that they can require an identity verification. I don't have example of licencied casinos who doesn't have this statement in their Terms and conditions.