ITV1 supremo Peter Fincham was unapologetically ambitious about the format during last month's Edinburgh TV Festival, describing it as "a cinematic experience" not to be missed.
And sure, it sounded attractive on paper... you have the cheeky Geordie duo of Ant & Dec, already the presenters of the UK's most popular entertainment shows. You also have the crème de la crème of celebrity guests: Leona Lewis, Cesc Fabregas, Louis Walsh. Need we say more?
But since launching, Red or Black? hasn't had an easy ride - it emerged on Monday that the programme's first winner Nathan Hageman had previously served over two years in prison for attacking his ex-girlfriend. Two contestants were then axed.
So, has Cowell's £15m gamble paid off? Tell us whether you're still watching in our poll, then let us know why Red or Black? has turned you on or switched you off below.