The following page is a modified copy of the Official Monopoly Rules
as printed in the Monopoly® Rule Book.

The object of the game is to become the last player left in the game, all others having given up or been bankrupted. To win, you should become the wealthiest player through buying, renting and selling of property.

The equipment consists of a board, 2 dice, tokens, 32 houses and 12 Hotels. There are 16 Chance and 16 Community Chest cards, 28 Title Deed cards (one for each property), and play money.

PREPARATION
Place the board on a table and put the Chance and Community Chest cards face down on their allotted spaces on the board. Each player chooses one token to represent them while traveling around the board. Each player is given $1300 divided as follows:
1 $500's, 3 $100's, 6 $50's, 6 $20's, 5 $10's, 5 $5's, and 5 $1's.
All remaining money and other equipment go to the Bank.
At the start, randomly deal two properties to each player, which they pay for out of their $1,300. Give the $1,500 initial rules.

BANKER
Select as Banker a player who will also make a good Auctioneer. A Banker who plays in the game must keep there personal funds separate from those of the Bank. When more than five persons play, the Banker may elect to act only as Banker and Auctioneer.

Besides the Bank's money, the Bank holds the Title Deeds, the houses and hotels prior to purchase by the players. The Bank pays salaries and bonuses. It sells and auctions properties and hands out the proper Title Deed cards when purchased by a player, it also sells houses and hotels to the players and loans money when required on mortgages. The Bank collects all loans and interest, the price of all properties which it sells and auctions. The Bank "never goes broke". If the Bank runs out of money, the Banker may issue as much as needed by writing on any ordinary paper.

Starting with the Banker, each player in turn throws the two dice, in a clockwise direction. The player with the highest total starts the play. Place your token on the corner marked "GO", then throw the dice and move your token (in the direction of the arrow) the number of spaces indicated by the dice. After you have completed your play, the turn passes to the left. The tokens remain on the spaces occupied and proceed from that point on the player's next turn. Two or more tokens may rest on the same space at the same time. Depending on the space your token reaches, you may be entitled to buy real estate or other properties, or be obliged to pay rent, pay taxes, draw a Chance or Community Chest card, Go To Jail, or etc...
If you throw doubles, you move your token as usual, the sum of the two dice, and are subject to any privileges or penalties pertaining to the space on which you land. Retaining the dice, throw again and move your token as before. If you throw doubles 3 times in succession, move your token immediately to the space marked "In Jail".

Each time a player's token passes over GO, whether by throwing the dice or drawing a card, the Banker pays that player a $200 salary. A player who lands exactly on GO gets $400 rather than $200.
The $200 is paid only once each time around the board. However, if a player passing GO on the throw of the dice lands 2 spaces beyond it on Community Chest, or 7 spaces beyond it on Chance, and draws the "Advance to GO" card, they collect $200 for passing GO the first time, and another $200 for Advancing to it the second time by the instructions on the card.

Whenever you land on an un-owned property, you may buy that property from the Bank at its printed price. You receive the Title Deed card showing ownership. Place the title deed card face up in front of you. If you do not wish to buy the property, the Bank sells it at thru an auction to the highest bidder. The high bidder pays the Bank the amount of the bid in cash and receives the Title Deed card for that property.
Any player, including the one who declined the option to buy it at the printed price, may bid. Bidding may start at any price.

When you land on a property that is owned by another player, the owner, if not in Jail, can collect rent from you, if she/he asks, in accordance with the list printed on its Title Deed card.
If the property is mortgaged, no rent can be collected. When a property is mortgaged, its Title Deed card is placed face down in front of the owner.
It is an advantage to hold all the Title Deed cards in a color-group (i.e., Boardwalk and Park Place, or Connecticut, Vermont and Oriental Avenues) because the owner may then charge double rent for unimproved properties in that color-group. This rule applies to un-mortgaged properties even if another property in that color-group is mortgaged.
It is even more advantageous to have houses or hotels on properties because rents are much higher than for unimproved properties. The owner may not collect the rent if she/he fails to ask for it before the next player following throws the dice. If you land on someone's property, you may avoid paying rent to your opponent if the next player rolls the dice before the owner asks you for rent payment.

When you land on either of these spaces, take the top card from the deck indicated, follow the instructions and return the card face down to the bottom of the deck. The "Get Out of Jail Free" card is held until used and then returned to the bottom of the deck. If the player who draws it does not wish to use it, then they may sell it, at any time, to another player at a price agreeable to both.
All paid tax, fines, Chance, Community chest money is paid to the centre of the board, collectable from the Free Parking.

If you land here you must pay your income tax at $200 to the Bank (in the centre of the board collectable from the Free Parking later on).

You land in Jail when...
(1)Your token lands on the space marked "Go to Jail",
(2) you draw a card marked"Go to Jail" or
(3) you throw doubles three times in succession.

When you are sent to Jail you cannot collect your $200 salary in that move since, regardless of where your token is on the board, you must move directly into Jail. Your turn ends when you are sent to Jail.
Maximum Punishment
Rule: A player in Jail may not collect rent, buy/sell buildings, participate in any auctions, or mortgage property. He or she may only make trades with another player in Jail or any player at Just Visiting.
Variations: A player may pay $100 immediately upon reaching jail to be placed in Just Visiting, and thus avoid a turn in jail. Good lawyers are expensive.
Reason: Makes jail a punishment rather than a safe haven.

If you are not "sent to jail" but in the ordinary course of play lands on that space, you are "Just Visiting", you incur no penalty, and you move ahead in the usual manner on your next turn.

A player gets out of Jail by...
(1) Throwing doubles on any of your next three turns, if you succeed in doing this you immediately move forward the number of spaces shown by your doubles throw. Because you had thrown doubles, you do take another turn (three doubles in a row sends you back to Jail).
(2) Using the "Get Out of Jail Free Card" before throwing the dice.
(3) Purchasing the "Get Out of Jail Free Card from another player and playing it.
(4) Paying a fine of $50 before you roll the dice on either of your next two turns. If you do not throw doubles by your third turn, you must pay the $50 fine. You then get out of Jail and immediately move forward the number of spaces shown by your throw.

Players collect money for landing on "Free Parking": the central Jack-Pot filled up with previous paid tax, fines, Chance, Community chest money.

Traveling Railroads
Rule: Whenever a player lands on a railroad, the player may choose to move his or her token to any other railroad owned by the same player.
Clarifications: The player must pay rent even if he or she does not travel. A player may travel on his or her own railroads, for free of course. A player may not travel on un-owned railroads. Travel is across the board, so a player does not get $200 for passing Go when he or she travels from Short Line to Reading Railroad. The owner of the railroads may not prevent the player from traveling. A player may travel to or from a mortgaged railroad.
Variations: The owner may disallow a player from traveling on his or her railroads if the owner refuses to take the rent from the player landing on it. The owner must decide to disallow travel before the player is required to specify his or her destination, if any. The owner must allow travel from a mortgaged railroad.
Reason: Gives players control over their tokens, and makes the ownership of the railroads important. For example, The player developing the green properties should attempt to split up the railroads so that players landing on them do not always travel to Short Line and thus skip the green group. On the other hand, the player developing the dark blue group should encourage a railroad monopoly, since so many players move to Short Line to get closer to go and are more likely to land on the dark blue group.
Water and Electricity
Rule: The two utilities, Water and Electricity, are benefiting everybody when a player lands on it. The normal payment rent is not only to be paid to the owner of the utility property, but also to each other player! At 4 players, this costs thrice more than at 2 players.
Reason: Makes the utilities actually worth having.
HOUSES

When a player owns all the properties in a color-group, she/he may buy houses from the Bank and erect them on those properties. If you buy one house, you may put it on any one of those properties. The next house you buy must be erected on one of the unimproved properties of this or any other complete color-group you may own. The price you must pay the Bank for each house is shown on your Title Deed card for the property on which you erect the house. The owner still collects double rent from an opponent who lands on the unimproved properties of there complete color-group.

Following the above rules, you may buy and erect at any time (except while in Jail) as many houses as your judgment and financial standing will allow. Just say “STOP, I build houses!” to interrupt the game flow. But you must build evenly, i.e., you cannot erect more than one house on any one property of any color-group until you have built one house on every property of that group. You may then begin on the second row of houses, and so on, up to a limit of four houses to a property. For example, you cannot build three Houses on one property if you have only one house on another property of that group, but you could build evenly 2 houses on each property of that group. You can so decide to build 1, 2, 3, 4 or 5 (5 = hotel) houses on each of the 3 unimproved properties of a color-group. As you build evenly, you must also break down evenly if you sell houses back to the Bank (see SELLING PROPERTY).

When a player has four houses on each property of a complete color-group, they may buy a hotel from the Bank and erect it on any property of the color-group. A hotel counts as five houses. The player returns the four houses from that property to the Bank and pays the price for the hotel (fifth house) as shown on the Title Deed card.
Unlimited Hotels
Rule: Players may build an unlimited number of hotels on a property. Rent must be paid on all buildings on a property.
Clarifications: After a player has raised a hotel on a property, he or she may purchase up to four more houses on that property and then may purchase a second hotel for that property. A player may not have more than four houses on a property.
Example: If a player has a hotel and two houses on Park Place and a hotel and three houses on Boardwalk, the rent is $2000 on Park Place and $3400 on Boardwalk.
Reason: Gives players more building options, more ways to spend money.

Unimproved properties, railroads and utilities (but not buildings) may be sold to any player as a private transaction for any amount the owner can get. However, no property can be sold to another player if buildings are standing on any properties of that color-group. Any buildings so located must be sold back to the Bank before the owner can sell any property of that color-group.
Houses and Hotels may be sold back to the Bank at any time for one-half the price paid for them. All houses on one color-group may be sold at once, or they may be sold one house at a time (one hotel equals five houses), evenly, in reverse of the manner in which they were erected.

Unimproved properties can be mortgaged through the Bank at any time. Before an improved property can be mortgaged, all the buildings on all the properties of its color-group must be sold back to the Bank at half price. The mortgage value is printed on each Title Deed card. No rent can be collected on mortgaged properties or utilities, but rent can be collected on un-mortgaged properties in the same group.
In order to lift the mortgage, the owner must pay the Bank the amount of mortgage plus 10% interest. When all the properties of a color-group are no longer mortgaged, the owner may begin to buy back houses at full price.
The player who mortgages property retains possession of it and no other player may secure it by lifting the mortgage from the Bank. However, the owner may sell this mortgaged property to another player at any agreed price. If you are the new owner, you may lift the mortgage at once if you wish by paying off the mortgage plus 10% interest to the Bank. If the mortgage if not lifted at once, you can do it later anytime.

BANKRUPTCY - Bank Repossession
You are declared bankrupt if you owe more than you can pay either to another player or to the Bank. You must turn over to the creditor all your cash up to full payment of the debt.
Rule: When a player is bankrupted by debts to another player, the debtor can trade to raise cash with other players (not the creditor) to reimburse the debt. If not enough cash is raised, then the debtor must sell (half-price paid) houses / hotels to raise cash and pay the creditor as much as possible. If not enough cash, the debtor must mortgage all his or her properties. If still there is not enough cash, then the debtor is declared bankrupt. A bankrupt player must immediately retire from the game. The debtor then returns all of her / his properties to the Bank. These properties, un-mortgaged by the Bank, are then available for purchase by other players as usual.
Reason: Often when one player is winning and bankrupts another player, that player gains enough property and money to insure winning the game. This rule makes the end of the game have all of the interest of the beginning, since a bankruptcy floods the board with new properties to be purchased.
LOANS
Rule: A player may never loan another player money or property.
Reason: Makes game faster.
Partnerships
Rule: Two or more players may agree to form a partnership with a property group in which they have a monopoly between them. Each partner may then purchase houses or hotels for the property they own as long as they follow rules for building evenly. A player may leave the partnership between dice rolls, forcing all players in the partnership to sell all of their buildings.
Example: Peter owns Boardwalk and Sarah owns Park Place. They agree to form a dark blues partnership and Peter builds a house on Boardwalk. Sarah later builds two houses on Park Place so Peter builds another two houses on Boardwalk. Players who land on Park Place are forced to pay $500 to Sarah and players who land on Boardwalk must pay $1400 rent to Peter. Sarah later lands on Boardwalk and pays Peter $1400 in rent. In disgust she dissolves the partnership and sells her two houses on Park Place for $200. Peter must sell his three houses for $300. Sarah should have dissolved the partnership just before throwing the dice that led her onto Boardwalk.

Negotiated rent Immunity
Rule: A player may grant full or partial immunity from paying rent on one or more of his or her properties as part of negotiations. The details of the immunity are up to the players involved in the trade.
Clarifications: Immunity does not transfer with the property if it is traded. A player who has granted immunity to another player and then trades the property away and then later trades to get it back still must honor the original immunity given. Make fair trades, but not "pity" trades. Only let people have a 'free ride' on your property if you get something in return, not because you feel sorry for them. Again, this only prolongs the game (and their agony - if they need a free ride from you, they're probably in trouble anyway). Make people mortgage houses/property to pay you - that's the point. There should not be any "until the end of the game" deals, it should be always limited like "you can have a free ride on Boardwalk and Park Place 1 time each, but not forever".
Example: In a six player game, George owns three railroads and Illinois, and Lisa owns the fourth railroad and the other two red properties. Lisa agrees to give the fourth railroad to George and allow him two free visits on the red group whenever he chooses. In exchange, George gives Lisa Illinois and immunity from paying rent on his railroads for three times. Later in the game, although George has been collecting $200 from the other four players fairly frequently, and used his free visits to avoid paying rent on Kentucky with three houses and later Illinois with a hotel, he is bankrupted from landing on Edgar's New York Avenue hotel. Edgar thus acquires the railroads and Lisa must now pay rent to Edgar's railroads when she lands on them.
Reason: Gives more options when negotiating trades.
Unlimited Housing
Rule: There is no limit to the number of houses and hotels in the game.
Reason: Removes the possibility of a housing shortage, and allows players who have had difficulty getting together a monopoly until later in the game a chance to improve their properties.

Each remaining player then values his/her property.
(1) Cash on hand
(2) Lots, Utilities and Railroads owned, at the price printed on the board.
(3) Any mortgaged property owned, at one-half the price printed on the board.
(4) Houses and hotels valued at half purchase price.

Double Prices (advanced)

Rule: All property costs twice the face value, only when purchased first from the Bank.
Clarifications: Mortgage values remain the same, as do all other values.
Variations: If the player landing on the property does not end up buying it, he or she gets a "finder's fee" of %10 of the sale cost.
Reason: Property is too inexpensive. In the normal game, it is always a good strategy to purchase property because even if it is not part of a monopoly that one owns, it can be traded for something more useful or mortgaged if not. As a result of this rule, players usually put property up for auction unless they really want it. This rule makes the game much more challenging, since players actually must think about what they are willing to buy and when to start an auction.

Free Market (advanced)

Rule: Players may build houses on any property they own, even if they do not have a complete set. If a player lands on a property which has been improved, they can either pay what they owner asks, up to a maximum of the normal amount required, or they may instead pay rent to any other owner of one of the other properties in the group, paying whatever rent that owner requests. If the player chooses to pay a different owner, including his or her own property in the group, then the player also moves his or her token to that property.
Clarifications: A player may not switch to a different property in the group if the property is not improved, nor may he or she switch to a property owned by the bank. If a player owns all of the properties in a group, he or she can charge the maximum rent allowed, and the player landing on his or her properties may not switch to a different property in the same group. When a player owns two properties in a three-property group, he or she must improve those two properties evenly. If a player acquires all the properties in a group, he or she must rectify the number of houses on each property so that the number of houses meet the even building rule.
Example: George owns Illinois and Kentucky Avenues, and Samantha owns Indiana Avenue. George decides to build three houses on each property, and Samantha decides to build just two on Indiana Avenue. Along comes Fred, who lands on Illinois. George asks him to pay the normal $750 rent for three houses. Naturally, he decides to switch his token to Samantha to pay her the $250 she is charging. George doesn't want to lose money that he hoped would be his, so he offers to allow Fred to stay on Illinois for only $200. Samantha drops her rent to $200 as well, and points out that George is winning already and should not be given more money. Fred can accept either offer.
Reason: Makes the reason for owning a monopoly a much more clear goal.

This list details the 22 real estate properties in the original American version of Monopoly as presented by Darrow to Parker Brothers. The Original Atlantic City Monopoly board was done by Hoskin/Raiford's Atlantic City Quaker Friends School teachers with the changes noted by starred [*] items. The bracketed items are the differences in the names on the Hoskin/Raiford Quaker Monopoly board. It is believed that a version copied from this school's edition by Charles Todd was in turn copied by Charles Darrow, duplicating the changes in names, and the infamous misspelling of Marven Gardens.

The four railroads (Reading Railroad, Pennsylvania Railroad, B&O Railroad, and Short Line) are each worth $200. Rent is based on the number of railroads that player owns: $25 for one, $50 for two, $100 for three, and $200 for all four. Each railroad has a mortgage value of $100.

The two utilities (Electric Company and Water Works) are each worth $150. If a player owns either, rent is equal to the amount shown on the dice times 4. If a player owns both, rent is equal to the amount shown on the dice times 10. Each utility has a mortgage value of $75.

Property square probabilities

The layout of the "special" squares on the board (that is, the non-property squares), as well as the dice-roll probabilities, mean that not all squares have an equal probability of being landed upon. In consequence, some properties are landed upon more than others and the owners of those properties get more income from rent. The board layout factors are:

Illinois Avenue (Trafalgar Square), New York Avenue (Vine Street), B&O Railroad (Fenchurch Street Station) and Reading Railroad (King's Cross Station) are the most frequently landed-upon properties. Mediterranean Avenue (Old Kent Road) and Baltic Avenue (Whitechapel Road) are the least-landed-upon properties.