Are you aware of the term value bets?
Yes, although what you're referring to is sports betting. In poker, it's situations where you have the nuts (the best possible hand) or you're sure you have a better hand than your opponent and you bet to get value for your hand.
The thing about value bets is that they are tough to find.
Given that the percentage of profitable long-term sports bettors is very low, around 5% or less, I believe so too.