To be fair, the song isnt about tricking the devil and using one's wits to overcome terrible odds or such like that, this random guy is just that good that he can just enter into a contest with a supernatural power and win it honestly. Id bet stories like that exist in other cultures, surely, but still probably arent as common as ones where the human must resort to tricks or suffers for hubris. Then again, the song also suggests the devil hasnt been too successful lately, so maybe this version of the character just isnt terribly powerful in the first place.