Hi, its the same loss counter for both triggers.
For example if the first race is a Hurdle at 12.00, the trigger will fire fine. Then if the second race is at 12.05 and its a Flat race, then it will fire without knowing the result of the first race as it probably is still running. It will just place a bet with 0 loss.
I have just used the previous event status is settled and seems ok, but if there is a race without any bets, it still needs to wait for it to finish.