Haven't used Sony LIV
Will there be 5 mins delay for IPL as well on Hotstar?
Downlinking and Uplinking to the TV Sets from the Satellite is very instant.
Secondly, the live matches telecasted are customized for TV audience like (the ads which cover the bottom left corner of the screen thereby reducing the size of the match telecasted, etc...) which cannot be shown on hotstar/starsports.com due to small screen sizes the platform is present on.
The major reason is that all TV advertisers don't advertise on the online platform therby making it difficult for the broadcaster to do live relay on the online platform.
Some other probable reasons would be to attract more audience to TV viewing of the match rather on hotstar as in 2016 TV has a wider reach and more impressions(TRPs) more the revenue the broadcaster can clock from the advertisers.