The odds provider dont need to do this as there are of course what you call as "statistic" and also that of course you've heard of commentator in live match. Their comment throughout the match will be considered in adjusting the odds as well

i.e in football matches even if the match is currently 0-0 . The odds for both sides will be different, thus this is calculated based on their statistics
like ball possesion, number of shots on target and etc. Also that the previous head to head statistics will be used to determine the odds as well.

P.S : I knew this from my friends who works in a local illegal sportsbook in my country