2 much risk 4 u?

This text from Sporting Index came alongside yet another promo that I must be able to find a way to exploit this weekend.  Register for their mobile betting service, and they'll cover net losses on sports up to £50, it says.

Getting set up turned out not to be as easy as texting some word to some shortcode number, as part one of the text suggested.  I've still had no response, so I'm not yet convinced this isn't part of some kind of scam.

I know it's the law 2 make sum abbrvs 4 txt, but would you really expect the compulsory high risk warning that is required by FSA-regulated spread betting firms to look like this?