CHANNEL 4 gameshow Moneybags has been axed after just two series – despite being a hit with viewers.
The popular show – hosted by Craig Charles – will not be renewed for a third series, in a huge blow to fans.
An insider said: “Moneybags has a really big and loyal fan base and having Craig on board just made it perfect.
“Unfortunately Covid has once again played it’s part causing the production behind it to go bust.”
The show was first commissioned by Channel 4 in 2021, before getting a second series of 30 episodes in 2022.
It first aired at 3pm before being moved to the coveted 5pm slot.
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Last month, Youngest Media, who produce the show, closed down and began liquidation – sealing the fate of the programme.
The show gave players the chance to win a life changing amount of money.
At the start of each week, 10 new contestants are introduced and £1 million is divided among 100 moneybags, in amounts ranging from £1,000 to £100,000.
Twenty bags are chosen at random for each game; once a particular bag is chosen, it is out of play for the rest of the week.
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A conveyor belt known as the Money Belt stretches across the stage, with bags entering at one end and the host standing near a chute at the other.
The players then compete in a number of rounds to try and win the different bags.
Speaking about hosting the show, Craig previously told The Herald: “I also liked the sense of companionship and camaraderie that the show engenders, because you're with them for a few days, you know, it's a slower process, you get to know people, how much it means to them, you get to find out a bit about the personalities involved.
“I'm not faking the excitement. It's really exciting, it's edge of your pants stuff. There's a million pounds a week coming down that conveyor belt, and it can be life changing sums for people.”
Craig became a household name playing Dave Lister on Red Dwarf, before going on to host a series of TV shows.
Channel 4 has been contacted for comment.
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