My question however is which between a live dealer table and an online specific software variant is more better to try out side betting with the care of too much risk involved?
You won't be able to get away from the high risk and low winning odds regardless of the Blackjack variant you choose to play. It's difficult to form those card combinations to get a payout. Consider a Perfect Pair, for example. That's when you get two identical cards: same color and same suit. For example, 2x 10 spades. The first two cards you receive from the dealer have to both be 10 spades.
How often do you think that happens? It's very rare.
There is another thing. Online blackjack variants can be played with different number of decks. I think they use either six or eight decks of cards. Depending on the version of the game, the odds of getting a Perfect Pair will be slightly higher or lower. But they will always be very low.