General rule is 2.5 watts per gallon. Also 2 heaters are a better choice than a single, this way you have a back up in the event of one failing. A single 300 watt probably will not be enough for a 500g. I would be looking for at least 2 500 watt heaters to be safe. But some of the heater makers would want you to go even bigger if you look at the recommended specs. They would probably want you in the 800 watt heaters x2 (most rate these for up to apx. 250-260g each)
OK i just picked up another 300 watt Odyssey heater at the LFS since i cant a few days wait for shipping to arrive. Now my water is at 70 degree. I have all 3 heaters on maximum setting. Hopefully they wont get burnt