To be honest it smooths the ride only to a small degree. The POT is very similar after 12 months for each method, so I'm just sticking to it as it has worked.

Liability is frustrating when an odds on pop gets up, as its a little too aggressive at that odds range.

Another method is to mix the 2 methods depending on price range, such as:

Flat stake lay of $6 if under $6.00
Lay to Liability $30 if over $6.00
at $6.00 the Flat & Liability bet are equal.