Take from Wikipedia as to give a clean, concise definition:
Pascal's Wager posits that humans all bet with their lives either that God exists or not. Given the possibility that God actually does exist and assuming an infinite gain or loss associated with belief or unbelief in said God (as represented by an eternity in heaven or hell), a rational person should live as though God exists and seek to believe in God. If God does not actually exist, such a person will have only a finite loss (some pleasures, luxury, etc.).
Interestingly, I wrote a blog about Pascal's Wager when on an atheist website. Coming from the vantage point of an atheist, I didn't think it made much sense to 'wage' one's life on assuming a deity exists, but now...I'm not so sure I consider myself an atheist. I've had this deep void over this past year, a God-shaped hole if you will, ever since my grandmother's health began to decline about a year ago. She lived to be in her 80's and died last week. It isn't so much concerning myself over an after life that I feel torn between not believing and believing...but I was once emotionally attached to my faith, it gave me great comfort in believing that a god was looking out for me and those I cared about. There is much joy to be had in this life, as an atheist, and I've experienced it, but there's something I still miss about faith life.
Having said this, Pascal's Wager was never intended to recruit atheists to Christianity by the way, but rather to get lukewarm Christians 'off the fence' so to speak.
Looking at it from this new perspective, I can't help but wonder if Pascal was right, after all. If I'm undecided...would it be so bad to live my life as if a god existed? Pascal was pretty specific as to ''which'' god, though. He was a Christian man, and favored Christianity of course.
So, is it foolish if one is undecided, to buy into Pascal's Wager? What do you think?