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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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.
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