MegaRace takes place in the distant future, where you are a contestant on a game show, called "MegaRace".
MegaRace is on the VWBT (Virtual World Broadcast Television) television channel where they play a live-or-die race match against Hells Angels-like speed gangs.
MegaRace's host is the eccentric Lance Boyle. He guides you throughout the game, introducing new levels and enemies to you and tries to discourage you. Your objective is to kill all of the speed-gang members in each race before three laps of the racetrack are completed!