High odds usually have lower probability of happening.
Not necessarily. Odds are not made by Gods, they are made by humans. Humans make mistakes.
I don't think value bet gives you any edge or advantage over bookmakers because the likeliness of such games playing is low.
You didn't understand his post. Value bets exist, they are rare but they do happen. It just means that the bookmaker miscalculated the odds compared to the true probability of something happening. Of course it happens, humans make mistakes all the time it doesn't matter if money is involved or not.
Make your own statistical observations. Do your own analysis by looking into stats and track record. Do not just depend on the bookmaker. Take into consideration also the public bias because bookmakers might depend on them too much. Sometimes bookmakers adjust lines based on where money is going not really based on true probability. With these in mind, you can score a few consistent payouts. It is not just about choosing the winner but taking advantage of the odds presented.
Never trust the odds. How many amazing slips have been lost because a player decided to add a small odds game or two. I know many cases where big money was not won because of this.