The 41-year-old - real name Angus Loughran - was declared insolvent at Manchester County Court on February 4.
He rose to fame alongside Frank Skinner and David Baddiel on '90s show Fantasy Football League, where he would offer facts and statistics wearing a dressing gown and pyjamas.
He can often be seen advising punters at horse-racing meetings for the BBC and has written for both the Daily Telegraph and online bookmaker Easyodds.
He has also provided football commentary for sports channels ESPN and Eurosport.
Loughran was unable to pay money owed to unnamed creditors. It is believed the bankruptcy order involved council tax arrears.