You see it all the time in discussion of cryonics. The one says, “If cryonics works, then the payoff could be, say, at least a thousand additional years of life.” And the other one says, “Isn’t that a form of Pascal’s Wager?”
The original problem with Pascal’s Wager is not that the purported payoff is large. This is not where the flaw in the reasoning comes from. That is not the problematic step. The problem with Pascal’s original Wager is that the probability is exponentially tiny (in the complexity of the Christian God) and that equally large tiny probabilities offer opposite payoffs for the same action (the Muslim God will damn you for believing in the Christian God).
See http://lesswrong.com/lw/z0/the_pascals_wager_fallacy_fallacy/