The game includes US and UK board versions and three varieties of game: standard, short and timed. In each, various rule options can be set, including popular house rules like the free parking pot, double money for landing on GO and having to go around once before starting buying, while standard rules like the even build rule, the auctioning of unsold properties and rent immunity in trading can be switched off. Players can be set between two and four, with the computer filling out any number of positions. The personality of the computer opponents can be set in four levels, from cautious to intelligent. Eleven tokens are available, including the money bag, introduced to the game in 1998 by popular vote.

Gameplay is seen in 3D, with an animated roll of the dice, the tokens moving around the board (the walking animations can be turned off), and Mr. Monopoly holding up Chance and Community cards. The camera can be set to five different positions during token movement, and there is a free camera mode for inspecting assets. The game can be saved between turns.