Set in 2090, the game is centred on a fictional extreme racing sport known as Ballistics, a descendant of Formula One. The player takes the role of a Ballistic's pilot, racing hoverbikes called speeders through the inside of tubes which form the courses. The speeders are magnetically attached to the race surface, allowing the player 360 degrees of movement along the left/right axis. The player can detach the speeder from the track and navigate down the center in order to avoid track obstacles and to acquire the power-ups exclusively located there. Players must try to follow the outside of each curve, as hitting the inside of a curve at speed could lead to an involuntary detachment, leading to a loss of control and seconds dropped in securing reattachment.

Heat levels on the speeder must be monitored, as although there are no set top speeds for the vehicles, they can explode if allowed to overheat. Heat builds up from acceleration and from collisions. To counteract this, the player may activate the onboard cooler, however, this will slow the vehicle down. Designated cooling strips along the track and the Ice power-up can cool the vehicle without a speed penalty, allowing the player to continue accelerating.

Speeders have a boost meter, showing how much fuel is available for the onboard speed boost. Although the boost provides greater speeds and acceleration than the standard throttle, it also increases the speeder's heat levels. Designated booster load zones along the track replenish the meter, and a super boost power-up is available which doubles the potency of the boost.