It's a question of how fast bettors act (and the respective bookmaker's react to their actions, consequently), rather than the books getting ahold of the information before everyone else. This only applies in cases where lines have already been opened by bookmakers, of course.
It's a small part of events obviously, but fairly often in absolute terms if you beat other bettors to the chase. Bookmakers also have vastly different reaction times between each other. I didn't find this out by myself. I read a couple of Tweets and saw this thread, coincidentally.