A 40x wagering requirement on a $1,000 bonus means you have to put $40,000 of turnover through the casino before the bonus unlocks as withdrawable cash. At a 3% effective house edge, that $40,000 of turnover costs you, on expectation, $1,200 in losses — more than the bonus.
That's not a reason to skip every bonus with 40x wagering. It's a reason to weigh what you realistically extract.
BC.Game: $1,600 welcome, 40x wagering, $5 max bet. Realisable value: about $400 in our model. That's not BC.Game being unfair — it's the arithmetic doing what it always does. The headline is $1,600. The reality is the PVI.