Actually isn't really true in all scenarios...
Of course you can bet and finally split the low pot and lose chips/money, but I don't like use that as a rule in stone.
In the turn, if you already have your nuts low, then you can try to buy the pot against a weak high hand or against a draw hand.
In limit games, if there are three players in the hand (you and another two players) is usual see one of them beeing squeezed by a nuts low and a nuts or better high. The player squeezed always had a low hand but not nuts, or maybe just draws.
I agree with you, in limit tables isn't the best move bet your low hand against only one villain, but again isn't a rule in stone... if you have position and the villain check the river after a blank card you still can try to buy the whole pot and not just check behind.
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