I subscribe to both Formula 1 and MotoGP online streaming services and couldn't care less if the broadcasts were even multiple minutes delayed. They may very well be already and I wouldn't know. As far as I can tell they both just use standard CDNs delivering DASH or similar (basically just short video files played in sequence).
That seems more than enough for sports. Multiple minutes may result in getting real time information from elsewhere (e.g., Twitter, local radio) but anywhere from 10 to 30 seconds seems fine.