Ferrari F1 simulates a Formula 1 race in which the players' cars move around a track, aiming to be the first to complete the race. The game was endorsed by Michael Schumacher, a multiple World Champion F1 driver.
There are 18 possible race tracks that can be built from different arrangements the 4 double-sided game boards. The players choose a track and roll dice to determine whose car token is in pole position (first at the starting line). They each have a dashboard that shows the gear engaged for his or her car and its fuel gauge.
Taking turns, players move their cars according to the position of their gears. They can roll dice to pull ahead, moving into spaces that match the color rolled. This action costs fuel, which is subtracted at the end of their turn. The game's rules also cater for accidents, pit stops, and other events in an F1 race.
The game ends when all players move their cars two complete times around the track. The winner is the one who is the first to do so.