A 500% deposit bonus is an enticing promotional offer often used by online casinos and betting sites to attract new players. When a user makes their initial deposit, the platform matches it with an additional 500% in bonus funds, significantly boosting the player's bankroll. For example, a $100 deposit could yield an extra $500 in bonus money, allowing for more extensive gameplay and increased chances of winning. However, it's essential to read the terms and conditions, as these bonuses typically come with wagering requirements that must be met before withdrawals can be made.