Pat venison dry with paper towels. In a bowl, combine flour, salt, and pepper, then toss venison to coat evenly.
In a large Dutch oven over medium-high heat, cook bacon until crispy. Remove and set aside.
Add 2 tablespoons olive oil to the bacon fat. Working in batches, brown venison on all sides (about 6-8 minutes per batch). Don't overcrowd the pot! Remove and set aside.
Add remaining oil and sauté onion until softened, about 5 minutes. Add garlic and tomato paste, cooking for 1 minute.
Pour in red wine, scraping up all those delicious browned bits from the bottom. Let it simmer for 3 minutes.
Return venison and bacon to the pot. Add beef broth, Worcestershire sauce, rosemary, bay leaves, and thyme. Bring to a boil.
Reduce heat to low, cover, and simmer for 1.5 hours, stirring occasionally.
Add carrots, parsnips, turnips, and potatoes. Cover and continue simmering for another 45-60 minutes until vegetables are tender and meat is fork-tender.
Remove rosemary sprigs and bay leaves. Taste and adjust seasoning. Let rest for 10 minutes before serving with crusty bread.