50% refund on a bet capped at $500 is obviously too high unless there is/other requirement of the refunded money as seleme mentioned before. Such big amount of refund should have a high requirement as well, otherwise it will not be a worth promotion for the casino. I have never seen any bookie offer such huge refund promotion in this industry so it is clear that that amount is just insane to offer. I have to say, risk free bet although only worth $10 is still much more better to gain new comers.
I would say rollover could be the deal. Like for example if you do 10x type of bet then you could get 50% of it back, that way you are not going to win it all that quickly and you are going to run out of money no matter what. Even with half of it back, you have a good chance to run out of money, if you have a lot then you could still bankrupt the casino so there should be a limit to how many times you can use it, like maybe 10 times is the max amount, if you make it unlimited then it will hurt the casino anyway.
I would say the ideal situation would be letting people choose what they want to pick as their bonus or promotion, free bet or refund or whatever, just give them a choice and it would be great. Same as when you want a child to do something, you do not say "go do this", you say "would you rather do this or that" and child thinks they have a choice and does it instead of simply rejecting.
Check today's promotion page we have more choices there are 3 interesting choices for sports betting
-1st Goalscorer Bet Refunded if Scores 2nd
-$10 Risk-Free on Nets vs Bucks
-Bet $20 on Top Goalscorer & Get $5 for Every Goal
As we expected there is an increase in promotions every week Duelbits know what we want
anyway, don't forget to read the terms and conditions so that there is no misunderstanding.