The industry spends millions to get that data so that odds can be adjusted and the betting sites can make money.
Sportradar is one of the most important sports data companies worldwide. They have people who attend the majority of live events across multiple sports. Then they have a risk-management team that ensures that the odds continue to favor the betting site. This is possible thanks to a large network of CDN and a large number of people. Sports Betting Software Development Company
It was possible to place bets on penalty shots a few years ago due to time delays. However, that is no longer possible today as data is transmitted at such rapid speed.
The book is a collection of odds, which I will refer to as ‘the book’. It was set up so that bookies can make a profit.
These odds will change as the bets are placed. To keep the book in profit, a given bet that is placed at the same time will have different odds than one placed at another time.
Another factor is that punters may exploit bookies’ odds by creating their own books. They tend to pay close attention to the odds of other bookmakers and adjust accordingly.
A bookie may try to “lay off” a portion of a large bet if they win.
In certain sporting events, point spreads are used in the calculation.
Computers can now manage the entire book. If they are working with point spreads, they may have a more or less formal model that will allow them to point-distribute the points between the sides. This model can be updated over time. They may add any factors they think are necessary. This information is usually kept secret because it makes it easier to exploit and can cost you a lot.