The only reason a 500 or 1,000 point freeroll in the client is useless is because at the amount of entrants first place ends up paying out for only 200-300 and you can't do much with that amount of points.
Honestly, a better idea would be a donation bank to where you can make a donation of any amount at any time and Zab could split up the points to all active new users. This would make it so all of the regulars aren't winning the client freerolls and getting the points they don't really need.