I almost did this to a brown marble I recently restored. I had planned on running a bead of clear silicone caulk along the playfield perimeter and up each of the four corners. If a beverage were spilled into the table I think this would do a good job of postponing greatly the soaking in/ swelling problem, giving one more time to clean the spill.
In theory, it seems like one could run a fairly thick bead without the ball ever being able to touch it. My idea, however, was to run a small, clean, unnoticeable bead. I would masking tape off the field and walls. I would then run a thin even bead. I would then gently smooth it with my index finger. My finger would be first dipped in windex. This trick helps greatly, as the silicone then cannot stick to your finger. Windex is also great at cleaning finished silicone caulk. I would carefully remove the masking tape immediately after smoothing while the caulk is still wet. If you're not confident, just nail two pieces of scrap wood together to make a corner to mask and caulk as practice. I'm not sure why you would ever need to remove it, but if you did, silicone caulk is not overly difficult to remove.
As was mentioned, this wouldn't solve everything. In particular, it seems like if liquids are allowed to pool up on the table ends, by the scoring markers, that it can soak in around that laminate seam. I'm not sure what I would do there, but if you do mount drink racks on the side, make sure to keep them low, so that tall glasses and long-necked bottle tops are still below the table top.