Hello screenrage,
Thanks for reaching out to us!
I tested out on my local site by adding some new random Venues and they sorted alphabetically by default on the event submission form. Additionally, this dropdown should be styled with Chosen Select which allows you to search for items within the dropdown to find items more quickly.
If you’re not seeing either of these things, try the Testing for Conflicts procedures to see if there is something else affecting this view.
Thanks!
– Josh