In Ready 2 Rumble Boxing Midway takes a comical approach to the sport of boxing by creating a cast of off-the-wall characters who can perform typical boxing moves and specialty moves not found in a real boxing match.

Ready 2 Rumble Boxing features a large number of playable characters including the retired cab driver Afro Thunder, sumo wrestling grand champion Salua, and Eastern Europes living legend Boris The Bear Knokimov. Each of the characters were created from scratch, and their footwork is supplied by a real-world kick boxer via motion capture animation. In the ring Ready 2 Rumbles characters experience the same punishments a real boxer would encounter, from open wounds that bleed and jaws that can become dislocated to skin that bruises and teeth that can be knocked out. Along with specialty moves a boxer can perform a Rumble Flurry, which awards letters each time they inflict a certain amount of damage.

There are two primary modes of play to fight in: Arcade and Championship. Arcade can be played as a single-player match against the computer or a head-to-head match between two players. Also in this mode players can fight their way up the ranks to become the champion on one of three difficulty settings.

Championship mode allows players to attempt to take a fighter to the top of the rankings. Before selecting a boxer players must first create a gym where the boxer will train and increase his abilities. Training takes place through mini-games that typically require players to use timing and rhythm to be successful. Boxers have seven different types of training: Rumble Aerobics, Sway Bag, Speed Bag, Heavy Bag, Weight Lifting, Vitamin Program, and Rumble Mass Nutrition Regime.

In order to train successfully, equipment must be purchased by using money that can only be earned during prize fights. The money won can be used to purchase equipment as well as to enter title fights. Title fights each have an entry fee and this is the only place where boxers can improve their overall rank.

Ready 2 Rumble Boxing also includes Michael Buffer and his trademark phrase Lets Get Ready to Rumble.