本研究旨在以詮釋學的方法，理解運動競賽中的共戲經驗。首先與世俗意識對話，澄清其無法直接進入運動的共戲經驗中，以理解運動愛好者何以熱愛運動。接著經由詮釋學的考察後，發現運動者與觀眾的共戲經驗爲一種實踐，非一般言語可窮盡其意義，也不是一種非黑即白、非美即醜的單一經驗，並提出八項特性：悠遊於通俗與崇高間；品嘗於人爲與自然間；置身於現實與虛幻間；倘佯於確定與不確定間；緊繫於回顧與期待間；觸動於極苦與極樂間；轉換於極動與極靜間；遊走於正軌與邊緣間。本研究進一步揭露運動的共戲經驗之特質是交錯的、多變的、轉化的、具有整體性意義的、以及直入生命深處的。雖然運動者與觀眾在運動情境中彼此相互感染，形成你儂我儂的經驗內涵，在經驗的面向上是相似的；然而，運動者與觀眾儘管在經驗的類型上相同，但在經驗的質感上有所不同。

The aim of this paper is contributed to expose the Co-Play experience of sport by hermeneutics. In taking up hermeneutic standpoints, it is suggested that there are eight major existentially dialectical clues by athletes and audiences in the sport. The eight clues consist of the dialectical relationships between general earthliness and dignified greatness, artificial and natural, real world and imaginary world, certainty and uncertainty, retention and expectation, extremely good feeling and extremely bad feeling, extreme move and extreme quiet, normal and deviation. It is suggested in this paper that the essential characteristics of the Co-Play experience are intricate, changeable, transformable, holistic, life-worldly. Finally athletes and audiences are similar in types of experience, but they are some differences in quality of experience.