6. Operator Capacity Facility

An Operator Capacity Facility is the real economic structure through which an operator accesses external payout capacity. It is configured for a defined covered portfolio and operates under predefined exposure limits, utilization thresholds and reporting requirements.

The facility is not a broad balance-sheet commitment. It is attached to approved covered activity. Only activity inside the covered portfolio contributes to utilization, fee generation, impairment calculations and recovery monitoring.

Covered portfolios

A covered portfolio is the set of approved games, multiplier configurations and exposure conditions supported by the facility. Portfolio eligibility matters because the risk profile of a facility depends on the games included, the max multiplier, the max bet, the distribution of volume and the quality of the reporting infrastructure.

Non-approved activity remains outside the facility. This separation prevents the operator from shifting unapproved or higher-risk activity into the external capacity layer without prior facility approval.

External buffer allocation

The external buffer is allocated as a dedicated reserve layer supporting the covered portfolio. It operates independently from the operator's treasury balances and non-covered liquidity. The amount of external capacity may depend on the portfolio's expected volume, payout distribution, multiplier profile, utilization and risk limits.

Facility state evolves as covered activity takes place. Remaining Buffer, expected carry, utilization and impairment conditions can update continuously as data is reported. However, changes in state do not automatically expand the operator's obligations. Maximum exposure and approved constraints remain defined by the facility terms.

Facility constraints

Each facility includes operational constraints designed to keep exposure bounded. These constraints may include maximum payout exposure, multiplier caps, covered volume limits, utilization triggers, impairment thresholds and recovery requirements. They are established before activation and should remain visible to both the operator and market participants.

When the facility enters stress, the response should be mechanical rather than discretionary. Capacity can be reduced, multiplier support can be throttled, or portfolio activity can be restricted according to the predefined framework. This is necessary to preserve market confidence in the facility state.