To and from the car, around the house from table to table, the design is acceptable. A short walk etc would probably be good. If you have 40 or 64 ounces. a bottle full of water and when planning a hike I would recommend a different product. It is held in place by a rubber retaining ring. It's essentially a 1/8 inch thick, 3/4 inch high band that's slightly smaller than the diameter of the top of the bottle. Then pull the tape across the top of the bottle and then down so it's right where the bottle starts to expand. The band is strong and it takes a lot of stretching to wiggle it down the neck of the bottle a bit. This would be ideal for bottles with a lighter weight and/or shorter wear time. If you're going for a long walk, with a full 40 or 64 ounces. Bottle, the bounce that occurs when walking, the tape will gradually start from the top of the bottle, then your bottle will fall off. A standard or 3rd party bottle cap will NOT stop the band from the top of the bottle as the outside diameter of the cap is the same as the inside diameter of the band.
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