If there was a 1% chance of outcome x, and I offered you 1000 to 1 odds, would you be a moron to take the bet, just because there is only 1% chance of winning i

If there was a 1% chance of outcome x, and I offered you 1000 to 1 odds, would you be a moron to take the bet, just because there is only 1% chance of winning it? Please call me. This moron put in EUR 100 yesterday at 4:1.