Bet % How are bets different to each other?

Hi there. Around 60 days in, doing good so far. 234 ROI
How does the bet % work?
How come a 4% value bet is 4% and another bet is 8% etc?
Just trying to understand the figures.
Im guessing the higher the % doesn’t mean it more likely to win… just bigger odds away from other bookies? Is that correct?

Yes that is correct. If you click the question mark icon it brings you to the help section where many of the parameters are explained.