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On the Street
Before the establishment of casinos,
gambling games were conducted on the streets, in homes, or in private
clubs. (The word "casino" comes from the Italian
"casa", which means house.) The amount that could be won was
limited to the funds of the individual players. By the 17th century
however, gambling had become formalized, with special venues that
offered players the opportunity to bet against the "house",
which would act as banker, paying out all winnings and retaining losing
bets. This gave players the advantage of potentially winning more money
than they bet.
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