Speedball is a futuristic football-like game which takes place on a steel walled floored pitch, 160 feet long by 90 feet wide. There are two teams, and the team scoring the most goals wins. There is a goal at each end of the pitch and a ball warp tunnels in each side of the wall. The warp tunnels can warp a ball from one tunnel to another. The ball is launched from the center of the pit by the automatic launcher in a random direction. There also bounce domes, off of which the ball will be deflected, but over which players are free to move. This version of the game comes with a much better VGA graphics and Sound Blaster sounds. The game-play is also greatly enhanced.

According to the game's story, the first Speedball league (founded in 2095) fails due to violence and corruption. As the organisation gives place to anarchy the game is forced underground, but five years later, in an attempt to regain public interest, Speedball 2 is born. The game starts in 2105 with the emergence of a new team, Brutal Deluxe.