|Wipeout 3 is a racing game that retains the same basic elements of its predecessors, and introduces players to the F7200 Anti-Gravity Race League. Players control futuristic anti-gravity ships owned by racing corporations and pilot them on eight circuits. Each craft is equipped with an energy shield that absorbs damage sustained on the track; if the shield is disabled, the player's craft can be knocked out of the race. Shields are regenerated in a pit lane that is set apart from the main course. The less time spent in the pit lane, the less the shield will regenerate.|
In addition to shields, each racing craft contains air brakes for navigating tight corners, as well as a "hyper-boost" option. Players can activate the hyper-boost to increase their speed, but the boost drains energy from the shields, making the craft more vulnerable. Using special speed pads on the course allows players to increase their speed without resorting to the boost.