I don't think so.
The EVGA faq site lists these requirements:
9800 GTX models
Minimum of a 450 Watt power supply
(minimum +12 Volt current rating of 24 amps)
Two available 6-pin PCI Express power dongles
If you look at the label on the 500 w unit,
http://www.tigerdirect.com/include [...] gcounter=6 it reserves 220w for 3 and 5 volts, leaving 280w for 12v., that's only 23.3 amps.
It also has only one pcie 6 pin connector, and the 9800GTX requires two.
Don't go cheap on the psu.
Look at a quality unit with two connectors from Corsair, Seasonic, or PC P&C.
A psu that has to run at it's maximum rated power will not be very efficient. Over time, this costs you money. A psu is generally most efficient in it's mid range of capacity.
If this were an efficient 80+ psu to start with, they would certainly advertise it in the specs.
A psu running at max will get hotter, ramping up the fan and making more noise.
Over time a psu can deteriorate.
It is unknown at what temperature this psu is rated for 500 watts. For marketing reasons, many are rated at room temperature(20c.) which is unrealistic in a enclosure.
It is unknown if the 500w rating is a continupus rating, or a maximum rating.
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