The goal of Rip-Off is to prevent computer-controlled enemies from stealing the eight canisters set in the center of the screen. One or two players control tank-like vehicles while game-controlled "pirate" tanks rush onto the field and try to pull canisters off the edge of the screen. Enemies can be defeated by shooting or colliding with them. The speed and difficulty of the game increase with each successive wave until all the canisters have been taken ("plucked").
One or two players try to defend fuel canisters from groups of invading pirate tanks that appear from the edges of the screen. There are six styles of pirate tanks in the game, 10 - 60 points each. The value of each style is determined by its speed and strategy. Tanks with a low point value are very slow and usually go directly to the fuel. Tanks with higher points are much faster and can work together to lure the player into annihilation.
Higher level pirate tanks are armed with short-range lasers, while player tanks (at all levels) are equipped with a cannon. Tank invasions are destroyed when they hit from a cannon blast or collision with the player's tank. There are no penalties for destroying enemy tanks in this way, except for a short period of time during which he is out of the game. When playing a two-player game, it is not possible to shoot the other player, although both of you will be destroyed if your tanks collide.
The game is organized in the form of waves and bonus levels. Two or three enemy tanks attack in each wave. The wave ends when all the pirate tanks are either destroyed by the players or have pulled the fuel canister off the screen. After a number of waves, the bonus level increases by 10, 20, etc. and a new round begins, starting with 10-point tanks. Each subsequent round is slightly faster and more difficult than the previous one. The bonus level gives extra points for every enemy tank destroyed. The game continues until all the fuel canisters have been "ripped off" by the pirate tanks.