I see ads on TV for Bet365, a local sports betting app, and every time it shows the live odds for whatever sports game is currently happening. The fine print says ‘accurate as of 30 seconds ago’. I know nothing about broadcasting, how do they manage this?
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keep in mind that the odds are not who the person holding the bets thinks will win. It’s how people are betting on the game or event. If everyone is betting that team A is going to win, then the odds need to push people toward betting on team b by giving a bigger payout it team b wins. That way the bet holder doesn’t lose his shirt.
There are folks in the arenas who are constantly entering information into an app that feeds into a database. We call that logging. Points, scores, player stats, etc are included. This database then becomes a data feed for a variety of applications including betting. It’s not perfectly realtime but it’s close.
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Sports books and bookies may their money on the ‘vig’ — a fee or commission on each bet that it/they collect.
[https://www.sportsbookscout.com/sports-betting-guides/how-do-sportsbooks-make-money](https://www.sportsbookscout.com/sports-betting-guides/how-do-sportsbooks-make-money)
To make money, the book needs to be balanced with an equal number of bettors on each side of the bet. The other_half_of_elvis explained it well below.
The commercials with live odds are ran from the control room or broadcast truck as a video with live graphics over top with odds fed from Bet365 as opposed to from the traditional commercial server.
They are designed to look like a traditional commercial but they are not. You’ll notice they are only at the start or end of a commercial break to hide the switch from the server to the control room/truck.
Source: sports graphics operator and sports commercial coordinator.
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