The current rate of a 500 dollars Xbox Live gift card can vary depending on several factors. Generally, in the open market, it might not be sold at exactly its face value. Some third-party sellers might offer it at a discounted price, perhaps due to various reasons such as trying to attract more customers or having special promotions.

However, it's important to be cautious when looking for the best rate. There are risks involved, especially when dealing with unauthorized or unregulated sources. These could potentially offer gift cards at a seemingly too-good-to-be-true rate, but might be counterfeit or obtained through illegal means.
To get a more accurate and reliable rate, it's advisable to check official gaming platforms or well-known retailers. They usually offer the gift cards at their standard value, ensuring the authenticity and proper functionality. This way, you can enjoy the full benefits of the 500 dollars worth of Xbox Live services without any complications.