From Peter Winkler's book:
the 100 ends of 50 strands of spaghetti are paired at random and tied togethed. How many pasta loops should you expect from this process on average?
I took ages because I misunderstood the question. The answer in the book asks for the expected number of loops when the ends of a given strand are tied together :
when you make your knot $i$ (0f 50) you pick an end, and of the $101-2i$ remaining ends you can choose to tie to this one, only one (the other end of the strand) makes a loop. It follows that the probability that your knot ends in a loop is $1/(101-2i)$, hence the expected average is $1/99 + 1/97 +... + 1/3+1/1$
In other word a loop is defined to be as per the first row in the picture below , where each each ends of a strand are tied together.
But what if the definition of a loop allowed longer loops like in the second row of my drawing ?
What would be the expected number of loops then ?

The definition of a loop is in fact in agreement with your second row of diagrams.
For example, if string $A$ ans ends $1$ and $2$, string $B$ has ends $3$ and $4$, and so forth, if I pair $(1,8)(2,3),(4,5)(6,7)$ plus any other pariings among the remaining $92$ ends, I get a loop consisting of strings $A,B,C,D$.