Yeah, it's a highly flawed argument that assumes a binary choice where there isn't one. It also doesn't take into account, doctrine which already has a chasm between Catholicism and Protestantism.

If the wager is to make any sense, it would be hoped that there's a post death grace period similar to Dante's Inferno or Purgatory where you can make up for your mistakes.

Again, it heavily relies on the assumption that Christianity is the only option but even then you can get so many things wrong. Mormons, JWs, Adventists are all technically as Christian roman catholics but their beliefs are vastly different and they're also exclusionary so if you get it wrong, you're out.

As a numbers game, the wager really isn't well thought out.