The Ant & Dec game show has struggled in the ratings for its second series, despite giving out £1.5 million in prize money on Saturday (September 8).
ITV bosses have stated that they can't continue to cover the show's high costs, while Ant & Dec are looking to focus on other projects, according to The Sun.
The first and second series of The X Factor has averaged around five million viewers, with just over four million watching Graham Fletcher take home the top prize on Red or Black? on Saturday.
Ant & Dec have reportedly told friends that they do not like pre-recording Red or Black? as they prefer to present their shows live.
"Ant and Dec have a huge, loyal fanbase but if a format doesn't interest people then there is only so much they can do", a source said.
"They have done two series and it still hasn't worked. They're not jumping up and down about it, but it's highly unlikely they'll make more.
"Their focus is on I'm A Celebrity and Saturday Night Takeaway."