Essential equipment for playing racquetball includes a racquet, ball, and appropriate footwear. The racquet is used to hit the ball against the walls of the court, while the ball is specifically designed for racquetball, being smaller and bouncier than those used in other racquet sports. Players must also wear non-marking shoes to protect the court surface and allow for swift movements. Protective eyewear is recommended to safeguard against potential injuries from the fast-paced game and ball.