The Ant & Dec-hosted gameshow has tweaked its format since the first run in 2011, now being prerecorded and featuring a rollover of the main prize if there isn't a winner.
After two rollovers of £500,000, 30-year-old carpenter Graham won the 50/50 chance-based quiz and took home the British TV record prize fund.
The winner's challenges included predicting the number of belly dancer turns during a Ronan Keating performance and a cricket challenge with England stars Kevin Pietersen and Mark Ramprakash.
Last year's series, which had seven live shows stripped across a week, featured four £1 million winners - Nathan Hageman, Kevin Cartwright, Darren Thompson and Gary Brocklesby.
Red or Black? airs in August on ITV1.