It followed a blackjack and casino motif, with contestants answering questions on popular culture to earn points.
Hosted by Canadian comedian Stewart Francis and his co-host, Sitara Hewitt, the show premiered in 2005.
As of June 25, 2007, the Comedy Network dropped You Bet Your Ass from its weekday lineup, replacing it with reruns of This Hour Has 22 Minutes.
Reruns of You Bet Your Ass began airing in the weekday morning block on April 28, 2008 (replacing History Bites).
Also, one player may get a wild card instead of a category, and he must choose an opponent from whom to take 500 points if he can answer a single question.
The player with the lowest score got first choice and could wager any amount up to their total on each of three successive questions in the chosen category, with a minimum bet of 500 points (100 in season 1).