"make a hissing sound," 1660s, of imitative origin. Related: Fizzed; fizzing. The noun is recorded from 1812; meaning "effervescent drink" is from 1864, from the sound it makes.
1530s, "to break wind without noise," probably altered from obsolete fist, from Middle English fisten "break wind" (see feisty) + frequentative suffix -le. Related: Fizzled; fizzling.
Meaning "make a noise as of a liquid or gas forced out a narrow aperture" is from 1859, "usually with special reference to the weakness and sudden diminution or cessation of such sound" [Century Dictionary], hence the figurative sense "prove a failure, stop abruptly after a more-or-less brilliant start." But this sense is earlier and dates to at least 1847 in American English college slang, along with the noun sense of "failure, fiasco" (1846), also originally U.S. college slang, "a failure in answering an examination by a professor." Barnhart says it is "not considered as derived from the verb." Halliwell ("Archaic and Provincial Words," 1846) has fizzle (v.) as "To do anything without noise," which might connect the college slang with the older word via some notion of mumbled and stifled performance:
In many colleges in the United States, this word is applied to a bad recitation, probably from the want of distinct articulation, which usually attends such performances. It is further explained in the Yale Banger, November 10, 1846: "This figure of a wounded snake is intended to represent what in technical language is termed a fizzle. The best judges have decided that to get just one third of the meaning right constitutes a perfect fizzle." [John Bartlett, "A Collection of College Words and Customs," Cambridge, 1851]
type of distilled drinking alcohol, 1714, shortening of geneva, altered (by influence of the name of the Swiss city, with which it has no connection) from Dutch genever "gin," literally "juniper" (because the alcohol was flavored with its berries), from Old French genevre "the plant juniper" (12c.), from Vulgar Latin *jeniperus, from Latin juniperus "juniper" (see juniper).
[I]t was not till about 1724 that the passion for gin-drinking appears to have infected the masses of the population, and it spread with the rapidity and the violence of an epidemic. Small as is the place which this fact occupies in English history, it was probably, if we consider all the consequences that have flowed from it, the most momentous in that of the eighteenth century—incomparably more so than any event in the purely political or military annals of the country. [W.E.H. Lecky, "A History of England in the Eighteenth Century," 1878]
Gin and tonic is attested by 1873; gin-sling by 1790; gin-fizz (with lemon juice and aerated water) is from 1878. Gin-mill, U.S. slang for "low-class tavern or saloon where spirits are drunk" (1872) might be a play on the senses from gin (n.2). British gin-palace "gaudily decorated tavern or saloon where spirits are drunk" is from 1831.
The card game gin rummy first attested 1941 (described in "Life" that year as the latest Hollywood fad); OED lists it with the entries for the liquor, but the sense connection seems obscure other than as a play on rummy.