1) Betting live, you'll have time to adjust your 'favorites' based on whatever system is meaningful to you.
2) Betting live, you won't have the option of betting a bunch of instantly-contrived straight tri's - there just won't be enough time.
I think we need to contrive a strategy where you pick the 'best team' (note, I didn't say 'likely winner') by whatever methods you like, then find bet patterns that can be executed swiftly. That team might be in combos in W, P or S positions.
Alternatively, you could pick the 'winner' and then proceed as above.
It does appear time is of the essence, since you're live betting.