Think about this from a logical perspective. You are the CEO of a large corporation. During a general assembly to your stock holders and employees, a lone worker comes up to the podium, and in front of thousands of his co-workers and managers proudly tells the CEO that he bets all his company stock and dignity that HE, the lowly worker can run the company better. The CEO looks at the lowly worker, and all the onlookers and proudly exclaims that he will take that bet and give the worker a set amount of time to prove otherwise.
Now here is the problem, set within religion. They feel that Satan is in control and that the bet of Universal Sovereignty was initiated. However, the world conditions (SHITTY) are because of Satans control... what? Why would Satan, or put more locally on a level all can understand, why would the lowly company XYZ worker slit his own throat and allow things to crumble much to the pleasure of the CEO? He wouldn't!! He (either Satan or lowly worker) would bust their ass to insure that things were running top notch, that the world or company operated BETTER than ever it could under the CEO (God). Only a FOOL would take the bet and allow things to turn to shit only to be mocked by the CEO and fellow co-workers.
So you see, either this is Paradise (which means under Gods rule things would be worse), or the story is bullshit, OR God himself is throwing a wrench into the works and cheating on the bet. Either way you look at it, it makes no sense and is not logical plausible for someone or a higher entity to take a bet and renege!