Two contestants competed over the course of three rounds to determine the veracity of statements made by three celebrities.
Correctly identifying a balderdash answer added the amount of the wager to the contestant's score, while correctly identifying an answer as truth paid off at double the wager.
Ten monitors were displayed, each with one letter in the word "Balderdash.” The champion was shown up to nine statements, all of which ended with a Balderdash word or phrase (almost identical to the Gauntlet of Villains from the CBS game show Whew!).
The trip was hidden behind one of the monitors, while the other(s) hid a secondary prize (usually a spa package).
Toward the end of Balderdash's run, the rules were adjusted so that if the champion gave nine correct answers within 45 seconds, he/she won both prizes.