- The contestant is shown six grocery items and five grocery bags. Each bag has a price on it which corresponds with one of the six grocery items. One item's price is not listed on any bag.
- One by one, the contestant must choose the item that matches the price on each bag. Then, the item inside the first bag is revealed. If it matches the chosen item, they win $1,000. They may then keep the money or go on to the next bag, essentially making a double-or-nothing bet that they have chosen the next item correctly. This repeats for each successive bag; thus doubling the money from $2,000, to $4,000, to $8,000, to the top cash prize of $16,000.
- It's in the Bag has been officially won at least 25 times (excluding one primetime officially won). It got its first win on December 9, 1997 (#0562K), the game's 9th playing.
- On The Price Is Right $1,000,000 Spectacular, starting on April 16, 2005 (#020SP, aired out of order on April 9), the last bag is tripled to $24,000. Before this, the prize was still $16,000.
- When the game debuted, the lights that show the cash values were yellow; beginning on October 8, 1997 (#0473K), the game's second playing, the lights turned blue.
- On February 20, 2009 (#4635K), the opening reveal's background changed from black to purple with a green border designed like the big doors. On the November 18, 2014 (#6892K, aired out of order on November 11) playing, it was revealed with the Door #4 video wall.
- On November 18, 2014 (#6892K, aired out of order on November 11), during Big Money Week, It's in the Bag was played for $80,000 with each step quintupled ($5,000-$10,000-$20,000-$40,000-$80,000). During that playing, it was lost on the fourth bag.
- On the Summer special on August 11, 2015 (#7202K, aired out of order on August 10), and again on June 20, 2017 (#7992K), the game was renamed It's in the Beach Bag. On the first playing, a contestant bailed out at $8,000, but should have won $16,000 as the contestant has all five items right; while on the second, the contestant stopped at $4,000, but could still have won $8,000, but got the last two in the wrong order.
- On The Amazing Race primetime special from May 25, 2016 (#036SP), the set was repainted. On June 8, 2016 (#7573K), the repainted set got carried over to the daytime show.
- It's in the Bag had been the 2nd game to be played in the game's slotting list. It had been this way for over 150 times.
- The game is currently in its losing streak, with the most recent win happening on November 3, 2015 (#7272K).
- The most number of times this game was played in any season was 27.
International versions of It's in the BagEdit
- Mexico: Translated to "Échatelo A la Bolsa", the game was played for MX$32,000. The corresponding cash values for each bag are $2,000-$4,000-$8,000-$16,000-$32,000.
- Netherlands: Titled "Lucky Bag", the game was played for €6.000. The corresponding cash values for each bag are €500-€1.000-€2.000-€3.500-€6.000.
- Vietnam: Translated to Tui Ba gang, the game was played for 16.000 Diem. The corresponding cash values for each bag are the same as the US.
- Australia: Played for a Big W shopping spree.
$24,000 It's in the BagEdit
$80,000 It's in the Bag from Big Money Week 2014Edit
First Ever It's in the Bag Win (December 9, 1997, #0562K)
It's in the Bag victory from a primetime special (The Price Is Right Salutes the U.S. Air Force, May 24, 2002, #002SP, aired out of order on May 30)
It's in the Bag win with a cool winning graphic (November 11, 2005, #3405K)
It's in the Bag featuring Tyra Banks (February 17, 2006, #3535K)
First It's in the bag win from Drew Carey Era (October 30, 2007, #4062K, aired out of order on October 15)
An It's in the Bag win from 2010 (January 22, 2010, #5005K)
An It's in the Bag win from 2011 (September 22, 2011, #5634K)
It's in the Bag with Demi Lovato (January 24, 2013, #6194K, aired out of order on February 22, originally rescheduled to air on February 21)
An It's in the Bag win from 2013 (April 17, 2013, #6313K, aired out of order on March 28)
A Heartbreaking It's in the Bag Loss (February 6, 2014, #6604K)
An It's in the Bag win from 2014 (June 20, 2014, #6795K)
$80,000 It's in the Bag (November 18, 2014, #6892K, aired out of order on November 11)
Another It's in the Bag win from 2014 (December 26, 2014, #6935K, aired out of order on October 2)