Can I use return value of INSERT...RETURNING in another INSERT?

You can do so starting with Postgres 9.1:

with rows as (
INSERT INTO Table1 (name) VALUES ('a_title') RETURNING id
)
INSERT INTO Table2 (val)
SELECT id
FROM rows

In the meanwhile, if you're only interested in the id, you can do so with a trigger:

create function t1_ins_into_t2()
  returns trigger
as $$
begin
  insert into table2 (val) values (new.id);
  return new;
end;
$$ language plpgsql;

create trigger t1_ins_into_t2
  after insert on table1
for each row
execute procedure t1_ins_into_t2();

The best practice for this situation. Use RETURNING … INTO.

INSERT INTO teams VALUES (...) RETURNING id INTO last_id;

Note this is for PLPGSQL

DO $$
DECLARE tableId integer;
BEGIN
  INSERT INTO Table1 (name) VALUES ('a_title') RETURNING id INTO tableId;
  INSERT INTO Table2 (val) VALUES (tableId);
END $$;

Tested with psql (10.3, server 9.6.8)

In line with the answer given by Denis de Bernardy..

If you want id to be returned afterwards as well and want to insert more things into Table2:

with rows as (
INSERT INTO Table1 (name) VALUES ('a_title') RETURNING id
)
INSERT INTO Table2 (val, val2, val3)
SELECT id, 'val2value', 'val3value'
FROM rows
RETURNING val