As I understand the wager, if you believe in God and there is no God, you'll die content in your belief and never know you were wrong.
This fellow was evidently not a JW/exJW, because his reasoning is against the fundamentalist "all-loving, omnipotent" God, which imo is not biblical.
Also, anyone who has been a JW should have the knowledge to refute the orthodox doctrines of "hell" and "soul" as not being biblical (but I realize, many did not, especially born-ins).
So, if you don't believe in God, and there is no God, you will never know that you were right.
If you don't believe in God, and there is a God, you will either never know you were wrong
OR
you will be resurrected with "the rest of the dead" for judgment, and you will be judged out of the scrolls according to your works/deeds/what you have done (Rev. 20:12-13--depending on the translation); not according to your beliefs.
So yes, the scripture agrees with the speaker, it will be fair.
~Binadub