A dungeon reputed to have some of the world's most valuable treasures is being heavily guarded by snakes, two-headed freaks, Cyclopes, and other monsters. Several unlucky professional treasure hunters have dared to enter this dungeon, only to be killed by the creatures lurking within. Armed with a bow and an unlimited supply of arrows, a brave smiley-faced character named Winky is determined to face the dangers and make off with the treasures.
Based on the 1981 Exidy arcade game, Venture is composed of eight different dungeon chambers (as opposed to twelve in the ColecoVision version). You begin the game as a small dot, crawling around a series of hallways, trying to avoid Hallmonsters so you can enter one of the four dungeon chambers. Once inside a chamber, you and your surroundings assume full size. Here you must avoid or shoot the creatures, grab the treasure (key, crown, urn, etc.) and get out. If you hang around a chamber for too long, a large green Hallmonster comes in and heads straight for you.
Once you have gotten each of the treasures out of the four dungeon chambers, you move on to the next four. When you have cleared all eight chambers, you get bonus points and start over at the beginning. Of the eight chambers, seven of them are guarded by creatures. The other is protected by electrified, moving walls.