The object of the game is to be the first Inspector (the players are all Clouseaus) to catch the Pink Panther four times, thus putting him in the pokey and out of circulation.
The Pink Panther starts in the inner track and rolls two dice; the players start on the outer track and roll one die. Note that the Pink Panther moves on each player's turn. Whenever the Pink Panther lands on a "Trapped?" space, a die against die check is made, re-rolling ties; if red is higher than white, the Pink Panther escapes. Otherwise the player gets a Pink Panther card.
The players can enter the inner track, triggering "Trapped?" checks as before. The risk, however, is that by landing on an "Escapes?" space, the player may lose a Pink Panther card (this isn't as bad as it sounds, since the space gives a card as often as it takes one). If both the Pink Panther and the player land on an "Escapes?"/"Trapped?" space simultaneously, this is considered an automatic Escape/Capture.
On an "Escapes?" space, if you have two or more Pink Panther cards, you may go for the "Big Chance". This is a die check as above, the stakes being all of your Pink Panther cards against instant victory.