Is Pascal's Wager self-defeating?

[Pharcyde]

Please forgive me if this topic has been discussed before in the past, but a)I'm new to this forum and b)it's been bugging me ever since the first day of my Philosophy 101 course, and I'm not the type to go to office hours.

From what I remember from the lecture, our professor said that Pascal focused on the "infinite gain" of believing in God, as opposed to the "infinite loss." He went on to explain that this meant that there aren't any consequences (i.e. Hell) for not believing in God, you simply die and don't get to go to Heaven.

Possibilities:
1. You believe in God. He exists. You get to go to Heaven.
2. You believe in God. He doesn't exist. You just die.
3. You don't believe in God. He exists. You don't get to go to Heaven. You just die.
4. You don't believe in God. He doesn't exist. You just die.

My question is: if you reject the idea of God, doesn't it follow that you also reject the idea of Heaven?

If the answer to this question is "yes," then it seems to me that the only way to be disappointed in Pascal's Wager is to believe in God and it turns out that he doesn't exist. It's clear you come out a winner in 1. and 4. Now, if you don't believe in God, then the infinite gain of Heaven doesn't exist to you. And even if it really does exist, you'll never know after you die, and because death is all you expected after life, you really didn't lose anything. However, if you believe in God and he doesn't exist, then you've made sacrifices (Lent, no pork, no sex before marriage, etc.) for no reward. So it seems like possibility 2. is the only way to come out a loser. Then again, I might have butchered Pascal's Wager and am about to get reamed out for it.

Any thoughts would be greatly appreciated.