Ragnagard

Ragnagard received generally mixed reception from critics since its release. Of Electronic Gaming Monthlys four reviewers, Crispin Boyer had a subdued reaction, but the other three panned the game. Shawn Smith and Sushi-X found it boring due to the characters' choppy movements and the lag time between each move, and Dan Hsu and Sushi-X remarked that while the pre-fight animations are impressive, the graphics are undistinguished once the fight starts. MAN!ACs Robert Bannert commended the character designs but felt overall mixed about Ragnagard when reviewing the Saturn conversion in regards to several design aspects. Player Ones Christophe Delpierre compared the visual style of the game with Killer Instinct. In a retrospective review for AllGame, Kyle Knight felt mixed in regard to the pre-rendered visual presentation and audio design but criticized the balance issues with characters and gameplay.

Ragnagard was later ported to the Neo-Geo AES, the home console version of the Neo-Geo MVS. This version features limited continues and different difficulty settings. This version was re-released through the Wii Virtual Console exclusively in Japan. Ragnagard was also ported to the Neo-Geo CD exclusively in Japan; this version features an improved intro, slightly cleaner background music, and a few other tweaks. This version of Ragnagard was later ported to the Sega Saturn, also exclusively in Japan. This version features a few new modes and control customization, while some of the game's graphics and gameplay were improved and altered. Unlike the arcade and Neo-Geo versions, in which the player can play as one of the bosses by entering a cheat code, the Neo-Geo CD and Sega Saturn versions allow the player to play as the bosses only by entering the versus mode. Hamster Corporation re-released the game as part of their ACA Neo Geo series for the PlayStation 4, Xbox One, Nintendo Switch, Windows, Android and iOS.