ITV has ordered a second series of roulette game show Red or Black?, which will be screened later this year.

Hosted by Ant and Dec, the programme will once again require contestants to use their skill and judgement to overcome its challenges to win big money prizes - but will air once a week, rather than nightly episodes stripped across seven days as per the first run.

The prize fund has also been reduced from £1,000,000 to £500,000. However, unlike the last series, if the money on offer at the end of a show isn’t won, it will roll over to the next instalment - meaning that players could theoretically end up competing to win £3.5m.

Creator Simon Cowell said: “One of the things I love most about this show is that it’s exciting, unpredictable, scary and a bit nuts all in one. I’m delighted it’s back and am excited about the possibility of rollover winnings and some even bigger games.”

Red or Black?, made by ITV Studios and Syco TV, debuted last September amid much fanfare, though viewing figures dwindled as the show played out over its week-long strip, and critical reaction to the format was mixed.

But ITV’s director of television, Peter Fincham, hinted that the broadcaster has learnt from the experience of the first series, saying: “We have developed Red or Black? and built on what we did with the first series. The scale of the challenges will still be huge but this time around, contestants will have more control over their own destinies.”

In addition to the show's new potential bumper prize, viewers are also promised appearances from celebrities and big-name musical acts.

Hosts Ant and Dec expressed their enthusiasm for the programme, saying: “Red or Black? is an extravaganza of a show, it's the most nerve-racking thing to work on but hugely exciting with so much at stake for the contestants.

“We're really excited to be going again with the new series."

To apply to take part in Red or Black?, email redorblackrsvp@itv.com.