A game is two eras — Canal (1770–1830), then Rail (1830–1870) — each lasting exactly 10/9/8 rounds with 2/3/4 players (an era ends when the deck and every hand are empty). Each round, players act in turn-order-track order:
- Take two actions — any mix, repeats allowed. Sole exception: in the first round of the Canal Era, everyone takes a single action. Every action (even passing) is paid by discarding a card face-up; the card's face only matters for Build. The six actions:
- Build — discard a location card (build in that town, even outside your network) or an industry card (build that industry inside your network) and place the lowest tile of that industry from your mat, paying its cost in £, coal, and iron. Coal must travel to the site along links; iron may come from any iron works or the market.
- Network — place a link: 1 canal for £3 in the Canal Era; in the Rail Era, 1 rail for £5 + 1 coal, or 2 rails for £15 + 2 coal + 1 beer.
- Develop — remove 1 or 2 tiles from your mat, consuming 1 iron each, to expose the stronger levels beneath. Pottery tiles marked with a lightbulb can never be developed — the only way to clear them off your mat is to build them.
- Sell — flip any number of your connected cotton mills, manufacturers, and potteries at merchants that buy those goods, consuming the beer each tile demands. Every flip advances your income marker.
- Loan — take £30 from the bank and move your income marker back 3 income levels.
- Scout — discard 2 extra cards to take the wild location and wild industry cards (not allowed if you already hold a wild).
- Spend openly. Money you spend piles onto your character tile — it is not just payment, it is your bid for turn order.
- Refill your hand to 8 cards at the end of your turn.
- End the round: re-order the character tiles — whoever spent the least goes first next round — then everyone collects income equal to their income level (skipped at the end of the game's final round; negative income must be paid to the bank).
- End the era: score 1 VP per link icon adjacent to each of your links, then remove them; score the VP printed on your flipped industry tiles (unflipped ones score nothing). Between eras, sweep every canal and all level-1 industries off the board, reset merchant beer, reshuffle everything, and deal fresh 8-card hands for the Rail Era.
Tiles flip in two ways: mills, manufacturers, and potteries flip when sold; mines, iron works, and breweries flip when their last resource is consumed — often by an opponent, which suits you fine: every flip raises your income.
A round in practice. Ana discards her Coventry card to Build a level 1 cotton mill in Coventry — the card names the town, so it needn't be in her network. Beto discards any card and pays £3 to Network a canal, linking his coal mine toward a growing town. Carla Sells: her manufacturer is connected to a merchant that buys manufactured goods, so she consumes that merchant's beer barrel, flips her tile, jumps her income, and pockets the merchant's bonus. Diego, cash-poor, takes a Loan — £30 now, income marker back 3 levels — funding a big Build next round.