You Bet! originally ran from 1988 to 1997, hosted by the late Sir Bruce Forsyth, with an updated format featuring “epic challenges, mind-blowing feats, big name celebrities and nail-biting suspense”.
The gameshow is to return with two "action-packed primetime" specials, as well as a panel of celebrities, with the studio audience predicting “if each challenger can complete the extraordinary challenge with which they are faced”.
ITV said: “Guess correctly and points are added to the celebrities’ score, based on the percentage of studio audience who voted the same way".
This new show will be hosted by Holly Willoughby and Stephen Mulhern, who previously reunited to host Dancing On Ice earlier this year. They also co-presented Saturday morning's children show, Ministry of Mayhem in 2004.
Willoughby had quit as host of ITV's This Morning, after being on the receiving end of a plot to kidnap and rape her had emerged, which saw security guard Gavin Plumb later jailed for life with a minimum term of 16 years.
“I’m so excited to be part of this iconic game show with the fabulous Stephen Mulhern", Willoughby said. “I’m looking forward to seeing the astonishing skills on show from the challengers and which of our celebrity panellists can come out on top".
On this latest project, Stephen Mulhern also added: “I loved You Bet! as a kid, so I’m very excited to be hosting this with the wonderful Holly Willoughby".
“From the big and spectacular to the unique and unexpected, I can’t wait to see what extraordinary skills the challengers have up their sleeves".
The end of the show will see audience members vote for their favourite challenger who will win a £10,000 prize. The celebrity with the highest score will also win £10,000 for their chosen charity.
ITV have confirmed that the celebrity with the lowest score taking on the final forfeit. The show will return on ITV and ITVX this Autumn.