Does the OAF value shown in the back-office include the reduction factor?

No. The back-office displays the bettor's assigned OAF value. For example, an OAF of 3.5 is still displayed as 3.5, not as 2.625 after applying the 0.75 factor. The reduction factor is applied by the back-end calculation and is not displayed separately in the back-office. A higher OAF allows a bettor to win more while consuming less of the shared liability pool.