is this 100% 4th of july freeplay impossible to meet?

[Inkwell77]

So I don't know much about rollovers and such, but betphoenix is offering a 100% fp with a 12x rollover.

So if I have this right:
Deposit $400
Receive $400 fp
Let's say I win $400 off the freeplay.
So now $800*12=9600
So I have to wager $9600 before I am eligible to cashout, right?

Seems brutal, could take a long time it would seem