As an aside, the largest SBI member is @contestkings, and they have a partner who lives only two hours from me. I would not be surprised if he has done full diligence and verified my identity using public records.

SBI explanations of operations and published refund policy stand as an implied contract that would be enforceable under local laws. So even though that's an ex post enforcement, not an ex ante prevention like my more elegant roadmap, there are already protections in place.