I've stayed at both. The Venetian has larger rooms and they are less expensive. However, I prefer the ambience of Bellagio and the casino design. The Venetian, like Paris, NewYork NewYork, etc., has an outdoor motif while inside. I do not like that type of design. These types of designs also have non-carpeted floors which amplify the noise. Neither hotel provides a coffee-maker in your room, which I find irritating.
Given the choice, I would much prefer Bellagio.
M8