1) Place the game board in the middle of the table.
2) Place the Round Marker in the space marked Round 1.
3) Shuffle the Market Stall tiles and add them (face-up) to the empty spaces based on the number of players participating. Market Stall tiles function just like other board locations but provide different options for each game.
In a 2-player game, add 1 Military Tile and 1 Economic Tile.
In a 3-player game, add 1 Military Tile and 2 Economic Tiles.
In a 4-player game, add 2 Military Tiles and 2 Economic Tiles.
Return the remaining Market Stall Tiles to the box.
4) Place the Small and Large Public Longships on their corresponding spaces on the board and the Private Longships off to the side of the board near the Shipwright’s Hut. (Private Longships marked 3+ and 4+ should be returned to the box in games with fewer players than indicated.)
5) Shuffle the Rune Cards, Destiny Cards, Merchant Ship Cards, Troll Cards, Draugr Cards, Journey Cards, and Monster Cards and place them on their corresponding spaces on the Board.
6) Place the Food, Wood, Viking Warriors (Swordsman Dice, Spearmen Dice, & Axemen Dice), Coins, Favor tokens, and Blame tokens near the game board where all players can access them.
7) The player who has most recently earned glory in battle receives the First Player Marker. (Alternately, select a starting player at random).
8) Beginning with the player to the right of the start player and proceeding counter-clockwise each player chooses a Viking Leader Board.
Viking Leader Boards indicate what Special Ability your Leader has, as well as your maximum capacity for Viking Warriors.
9) Each player takes worker meeples in their preferred color along with starting resources of 1 Food, 1 Wood, 1 Coin, 1 Favor token, and 1 Swordsman Die.
10) Place 1 disc in your player color on the scoreboard and the other on your player board to indicate your color. Then place 1 worker meeple in the general supply (to be earned by the use of the Worker Huts location) and keep the other 3 in your personal supply (4 in a two player game). Any additional worker meeples should be returned to the box
11) Finally, each player receives 1 random Destiny Card – then you are ready to begin.