The single race mode awards medals to the top three finishing hovercraft. Each contestant must reach checkpoints on the course within a certain amount of time, or be ejected from the race. Winning consecutive gold medals unlocks new tracks and crafts. "Wipeout 3" features several other game modes, including challenges to complete courses in a set time. In the "Eliminator" mode, players gain points for destroying competitors and finishing laps. The "Tournament" mode has players competing on several tracks, with points being awarded for placement in each race. Players can engage in two-player racing via a split-screen option.