Haha, yet a classic example of why not to use SMS services for these types of 'legal scams' hehe... These bid things have been around for ages with the same types of things coming out. I don't enter any of these 'scam' type services myself, and I suppose you have learned a very cheap lesson (I know people who have rigged up $1000's in SMS bids).
I can assure you for the interest of the company providing the SMS service that a prize is available, and that the person with the lowest unique bid got the prize. You see, it's not in the interest of these Premium SMS companies including the infamous
19 40 40 'scams' not to award a prize given they are borderline as it is.
If you have a complaint about the service, I would highly recommend forwarding a letter and proof (in the form of SMS's both sent and recieved including a copy of your bill if not prepaid) to your local ombudsman or alternatively contact from memory
CBN Media Pty Ltd, or
5th Finger and inquire about it. I can assure you, you will get a full refund.
Oh, and besides - I did win an XBOX 360 from CyberShack TV, and well - it's back in Microsoft's hands for the second time

Whether it's still worth trying to win one, I don't know

Especially if you are entering SMS competitions like this one. I mean in all honesty, it looks as if you could have potentially spent $50 all up by the time you finished SMSing and paid your low bid fee... I suppose I was lucky -
one singular SMS because I didn't have enough credit to make a call

Good luck,
Orb!ter