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It's a complicated subject, which is not necessarily defined in the same way by everyone who has something to say about it.
Start here:
https://en.wikipedia.org/wiki/Value_(poker)
(The example at the end of the article is limit Hold 'Em. Take it as a guide for NLHE, but not the end of the story.)
Google other sites if you like.
Bring back any questions you may have.
You're going to want to make sure you understand what equity is.
Also, know the pot-odds equation and how to apply it.
Understanding these terms is at the heart of learning poker. These will play a role in nearly every decision you make.
Making value from a bet is about choosing appropriate bet sizes to manipulate your EV to your greatest benefit. In so doing, you do not need to have > 50% equity against villain's range. In fact, this is the unrealistic max. I say unrealistic, because only in a game with no blinds or antes would you ever need 50% equity to make a value bet. The presence of dead money in the pot always means you need less than 50% equity. So, even in the hypothetical game with no binds or antes, it's still only the first decision that requires you to have > 50% equity. After that, the dead money from the previous bets is there.
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