Cheddr is a real-money sports wagering platform built for scale and accessibility, operating legally in 46 U.S. states—nearly twice as many as traditional sportsbooks like DraftKings. By leveraging sweepstakes-based gaming mechanics, Cheddr expands real-money engagement to a significantly broader audience while remaining fully compliant with regulatory frameworks.

The company is targeting a rapidly growing sector: over $150 billion is wagered annually on sports in the U.S., with 25% of adults and 82% of male college students participating. Yet, current online sportsbooks are restricted to just 25 states and largely exclude users under 21. In contrast, Cheddr delivers a frictionless, mass-market product with a simplified UX, real-time microbetting, and strong social and gamification layers.

Cheddr’s product roadmap includes partnerships with major sports leagues—including the NFL—to power live, in-game microbetting, giving the platform a distinct edge in retention and monetization. The app is designed as the TikTok of sports wagering, combining entertainment-first design with real-money upside.

Founded in 2023 and based in the U.S., Cheddr is led by CEO Jason Krupat, a serial entrepreneur with a track record in real-money gaming. Prior to Cheddr, he raised venture funding from Drive by DraftKings for a crypto-based skill games platform. The leadership team brings over 30 years of combined experience across sweepstakes, skill-based, and real-money game mechanics.

Cheddr has raised a total of $500,000 USD in funding:

• Pre-Seed Round: Raised $500,000 from Nocturna Capital, supporting platform development, regulatory operations, and early user acquisition.

With its differentiated legal approach, mobile-native design, and deep industry experience, Cheddr is positioned to scale sports wagering into a mainstream consumer experience—unlocking new demographics, new states, and new revenue models in one of the largest entertainment markets in the U.S.