This is not correct. This would be the case if every 10 hands were a discreet bundle and you had to win the ten hands straight within one of those discreet bundles. In other words, if you broke the 17,000 hands up into 1,700 segments of 10 hands, and you had to win the 10 straight hands within one of those segments, than your math would make some sense. But the reality is that every time you lose, you have a new chance to start a streak. For this reason you have many more than 1,700 chances to win 10 in a row if you play 17,000 hands. You are not arbitrarily held to 1,700 segments of 10 hands.
This is also the wrong way to look at it. You have to look at NET losses. Assuming a house advantage of 0.5%, you would be "expected" to lose 850 points. Of course, actual results would be tend to be much higher or lower (you can even win), but that is the expected loss. And again, the 170,000 wagered is not even a valid number to begin with.
If you assume that SBR blackjack is not rigged, then this promotion has a positive expectation.*
* Also assuming you know how to play black jack.
So over 170,000 points have to be risked. Assuming a standard ~43.31% win percentage in blackjack, 96373 points will be lost for every 1000 won from the promo.
If you assume that SBR blackjack is not rigged, then this promotion has a positive expectation.*
* Also assuming you know how to play black jack.