Stake Referral Code CBG200 is a code string you enter when you open an account at stake.com, and according to the offer details supplied for it, it delivers a 200% deposit bonus together with a permanent 5% rakeback on all wagers. Those two components are the whole of the offer: a one-off match on the qualifying deposit, and an ongoing return of a small share of everything staked afterwards. This article explains what kind of code CBG200 is, who runs the site behind it, how the two parts of the offer work mechanically, where a code like this normally goes in a sign-up flow, and which pieces of the fine print you will have to read for yourself before you commit any money.

Readers arrive at this code under several different names, and it is worth being clear about the distinction because it changes what you should expect. A voucher or coupon is usually a one-time token consumed at a checkout, common on retail sites. A promotion code is a generic marketing string that any number of people can use for the same published campaign. A referral code, in the sense most relevant here, is a string tied to whoever distributed it, so that sign-ups arriving with that string are attributed back to the referrer.

CBG200 behaves like the third of those. It is best treated as a private affiliate code rather than a public campaign banner: it is a specific string, handed out through a specific channel, that carries a specific stated offer. That has two practical implications. First, the value attached to it is what the code's distributor states it delivers, not something you can necessarily cross-check against a public promotions page. Second, because attribution is the point, the code has to be present on the account from the beginning for the attribution to stick.

One thing this article deliberately does not do is tell you what the operator's own interface calls that input box. Sign-up forms label these fields inconsistently, and the honest position is that you should look for whichever of those words appears on the form in front of you and treat them as the same slot.

Stake is an online casino and sportsbook that launched in 2017 and operates at stake.com. It is run by Medium Rare N.V., which holds a licence from the Curaçao Gaming Authority under licence number OGL/2024/1451/0918, and is registered at Fransche Bloemweg 4, Willemstad, Curaçao. The business was co-founded and is owned by Ed Craven and Bijan Tehrani.

The platform is crypto-first and is widely described as a cryptocurrency casino, which matters for anyone weighing up the offer: the deposit that triggers a 200% match is expected to arrive in that form. There is also a tiered VIP programme running alongside the standard account, though the specifics of its tiers are not something this article can set out.

A deposit match gives you promotional credit calculated as a percentage of the money you put in. At 200%, the bonus credit is worth twice the qualifying deposit. Put in 50 units of currency and the match is 100 units of bonus credit, giving a combined balance of 150 units; put in 200 and the match is 400, for a combined 600. The arithmetic is simple, but the framing matters: the matched portion is promotional credit subject to the operator's conditions, not cash you have won and not money you can treat as your own until those conditions are satisfied.

There is no maximum bonus figure stated for this code, and no minimum qualifying deposit is stated either. That is not the same as saying no limits exist — it means the figures are not part of the offer information available here, and the operator's own bonus terms are the only place to establish them.

Rakeback is a different mechanism altogether, and it is the part of this code that distinguishes it from an ordinary one-off welcome bonus. Rakeback returns a share of the amount you have wagered, regardless of whether those wagers won or lost. It is calculated on turnover, not on outcome. At 5%, every 100 units staked corresponds to 5 units returned under that arrangement.

The offer describes this 5% as permanent and as applying to all wagers, which means it is not a first-week promotion that lapses. In practical terms, a deposit match is front-loaded and finite, while rakeback is a small, continuous drag-reducer that only accumulates in proportion to how much you stake. Neither changes the underlying odds of anything you play, and neither should be read as a mechanism for coming out ahead.

It is not stated whether the match and the rakeback are activated in one step or as two separate opt-ins. If, after entering the code, you can only see one of the two on your account, that is a question for the operator's support channel rather than something to guess at.

The general shape of applying a code like this is consistent across most sites, even though the exact screens differ. The principle to hold on to is that codes are almost never applied retroactively, so the code goes in before money does.

This is the single most useful thing to check, because a bonus claimed from a country the operator does not serve is a wasted deposit rather than a bonus. Players from a substantial list of jurisdictions are not accepted. Those reported to include Afghanistan, Argentina, Austria, Australia, Belgium, Brazil, Cyprus, Denmark, France, Greece, Israel, Poland, Portugal, Slovakia, the United Kingdom and Zimbabwe. That list is partial — sources refer to further countries without naming them — so treat it as an indication rather than a complete register, and verify your own location against the operator's live terms before depositing.

Stake also runs a separate US-facing site on a different domain with entirely different mechanics. Nothing described in this article relates to that platform, and readers in the United States should not assume this offer reaches them. The minimum age is 18, or the legal age where you live if that is higher.

Some of the most consequential terms are not part of the offer information available here, and it would be misleading to invent them. A deposit bonus of this type carries wagering requirements and an expiry window; both are set by the operator, and both determine whether the matched credit is realistically usable at all. Read the current figures on the bonus terms page before you opt in.

The structure of this offer favours someone who was already going to open an account on a crypto-first platform and who is comfortable reading bonus terms closely before committing. The 200% match rewards a larger single deposit in absolute terms, but only in proportion to conditions you have not yet seen. The 5% rakeback favours continuity rather than size, since it accrues on turnover over time.

It suits nobody in a restricted jurisdiction, and it suits nobody who would deposit more than they are prepared to lose in order to maximise a match figure. Bonus credit inflates a displayed balance; it does not change what happens next.

As a package, CBG200 is coherent: a headline match to open the account and a small permanent rakeback to sit underneath ordinary activity. The rakeback is arguably the more interesting half, because it does not expire and does not need clearing in the way matched credit does. Against that, the match is the part with unstated conditions attached, and unstated conditions are exactly where deposit bonuses tend to disappoint people who did not read them.

The sensible approach is narrow and unglamorous. Confirm you are eligible, enter the code before you deposit rather than after, read the wagering and expiry terms as they currently stand, and size the deposit according to what you can afford rather than what produces the biggest match on paper. Treated that way, the code is a straightforward piece of account admin. Treated as a reason to deposit more than you intended, it is not.

Gambling involves risk and is intended for adults aged 18 or over (or the legal age in your jurisdiction). Bonuses carry wagering requirements — read them in full before opting in, never stake more than you can afford to lose, and seek support if gambling stops being entertainment.

Promotional terms, eligibility and values are set by the provider and can change at any time. Always confirm the current terms on the official site before signing up or completing a purchase.