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Summary:
GTA Online will be completely free and will come with GTAV, but won't launch until 1st October.
There will be a countdown timer in game to the online launch
GTA Online begins with you arriving with no money at all, and you must first complete a few missions to get a feel for the game
Reputation Points (RP) will be awarded for completing missions, as you progress through the game you will meet new characters and unlock more missions and rewards etc.
There's a lot of property you can buy, at varying prices. You can even use the CCTV to spy on people.
You can take out insurance on your vehicles and get a replacement if it gets destroyed.
You can hire mechanic to fix all your vehicles automatically.
You can hire a private security firm to call in an air strike
Your customised vehicles show up as a marker on the map, and will get impounded if you leave them for too long. But you can pay to retrieve them.
You will need to deposit your money at the bank as often as possible, because if another player kills you he can steal your wallet.
You can call up a friend to hide your blip on the map to make it more difficult for other players to find you
Passengers can change the radio station in vehicles
You will have contacts that can provide various services, such as hiding you from the map as mentioned above, or setting a bounty on another player.
Some vehicle customisation shops might not be willing to change your license plates or respray your car, and instead you'll get a wanted level.
Weasel News will report on players who have wanted levels
Apartments have planning rooms for organising heists
When in a heist, you can invite your friends who will be instantly teleported to your location
You can share cash, weapons, ammo among your team
Your ranking in GTA Online will be based off your shooting, driving, flying and parachuting skills
There's a "passive mode" which allows you to free roam and not be killed by anyone, in turn, you can also not kill other players
Bad behaviour, such as blowing up another player, will cause you to get a "Bad Sport" stat. Persistent bad behaviour will result in punishment
Matchmaking system is based off ranking, prioritising the ranks of your friends, crew members, and strangers.
The game automatically tracks who your rivals are, and will notify you if they come online so you can get revenge.
When using a headset, if you speak, your character will broadly lip-sync.
In addition, if you rob stores, your crew members will stuff money into bags more quickly if they hear urgency in your voice.
The Content Creator allows players to create and share their own missions and activities via the Social Club. Other players can attempt to beat your targets and rate your mission. You'll be able to follow other creators and get a feed of missions they create
A Twitter-like "Feed" will be available to relay all your emails, texts and messages from Social Club.
The game world will constantly grow and change as new content is added by Rockstar, and at some point GTA Online will head into new locations.
Access to Grand Theft Auto Online is free with every retail copy of Grand Theft Auto V and launches on October 1st.
Rockstar's Own Words: