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Most referral system use wager as the base calculation instead of deposit, so basically deposit of your referral wont give you any benefit if your referral does not wager much.
It is very rare to find referral program where the calculation is based on the deposit.
More referrals = more rewards? Not that easy, back to the base how the referral program works.
Even if you have thousands referral but most of them are not wagering enough, you wont earn good commission.
In more specific way of explaining how referral system works, most of gambling platforms (if not all) depends the earnings of the referrer from the wagered amount of the referral on a game's house edge. The higher the house edge, the better bonuses you can get. If you have thousands of referral, I think it will give you decent earnings even though most of them are not playing a lot. For some people, referral is also a good way of earning money.