I want to add to the already good answers here by pointing out a few scenarios that I've seen.
1) The web service may have a terrestrial broadcast partner, or may have partnered with an established network to produce the content in question. In that scenario they may transmit via satellite back to that partner facility in order to establish link, and the network HQ can provide contribution to the web services.
2) In most established US sporting venues there is a large quantity of bandwidth available from various providers. There are multiple vendors with redundant 10gig trunks into the venue, there is a push in some scenarios to upgrade those links to 100G. With appropriate bandwidth to a collocated datacenter at each venue its fairly simple to contribute directly to the web processing stack and CDN Networks with a low compression algorithm such as JPEG 2000, or JPEG XS. Even at 200-500meg/stream there is plenty of bandwidth available to support that level of IP transport.
3) On the low end, I've watched someone with a pair of gaming laptops and$150 Blackmagic Converters walk onto the truck and stream out to YouTube over the public internet.
In another comment you are surprised at the cost of a set of professional encoders. The $2000/channel price point is on the low end of professional encoding hardware. Remember there's a big difference between consumer and professional gear. In the professional space, I need this hardware to function 24/7/365 flawlessly, and the market is pretty small.
Go ahead and google Contribution Encoding Platform and you'll get a sense of the players involved in the product space for this.
I think the eos webcam program still doesn't work on m1, so your only real option here is a capture card. Here is a fairly cheap one that will work on a m1 system https://www.amazon.com/Blackmagic-Design-UltraStudio-Recorder-Capture/dp/B08D6QTVH3/ref=pd_lpo_1?pd_rd_i=B08D6QTVH3&psc=1
I think this is it: Blackmagic Design UltraStudio Recorder 3G Capture Device: https://www.amazon.com/dp/B08D6QTVH3/ref=cm_sw_r_cp_apa_glt_fabc_ZZX6NWWHP7EB96RY8J9R
Or more expensive ones: https://www.blackmagicdesign.com/products/ultrastudio
NDI or Blackmagic 3G Recorder