Monopoly for Sega Master System is an early licensed version of the classic real estate trading board game. The game supports up to ten players, with any number that can be controlled by the computer. The skill level of computer opponents can be set in three levels from beginner to expert.
The gameplay involves selecting options from a menu during each player's turn. The game board is seen from the top and fills the screen, with a bar at the right displaying information about the current player's token, cash reserve, houses, hotels, and bank. The movement of tokens around the board can be seen in a special animation, which can be toggled on or off.
Other features include the ability to convert any human player to a computer player or vice versa, as well as setting a time limit for each game. A battery is included on the game cartridge for saving a game in progress.