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From: Webster's Revised Unabridged Dictionary (1913)

 Far·o n.  A gambling game at cards, in which all the other players play against the dealer or banker, staking their money upon the order in which the cards will lie and be dealt from the pack.
 Faro bank, the capital which the proprietor of a faro table ventures in the game; also, the place where a game of faro is played.