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hazard (n.)

c. 1300, name of a game at dice, from Old French hasard, hasart "game of chance played with dice," also "a throw of six in dice" (12c.), of uncertain origin. Possibly from Spanish azar "an unfortunate card or throw at dice," which is said to be from Arabic az-zahr (for al-zahr) "the die." But this is doubtful because of the absence of zahr in classical Arabic dictionaries. Klein suggests Arabic yasara "he played at dice;" Arabic -s- regularly becomes Spanish -z-. The -d was added in French through confusion with the native suffix -ard. Sense evolved in French to "chances in gambling," then "chances in life." In English, sense of "chance of loss or harm, risk" first recorded 1540s.

hazard (v.)

"put something at stake in a game of chance," 1520s, from French hasarder "to play at gambling, throw dice" (15c.), from hasard (see hazard (n.)). Related: Hazarded; hazarding.

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Definitions of hazard from WordNet
1
hazard (v.)
put forward, of a guess, in spite of possible refutation;
Synonyms: guess / venture / pretend
hazard (v.)
put at risk;
hazard (v.)
take a risk in the hope of a favorable outcome;
Synonyms: gamble / chance / risk / take chances / adventure / run a risk / take a chance
2
hazard (n.)
a source of danger; a possibility of incurring loss or misfortune;
drinking alcohol is a health hazard
Synonyms: jeopardy / peril / risk / endangerment
hazard (n.)
an unknown and unpredictable phenomenon that causes an event to result one way rather than another;
Synonyms: luck / fortune / chance
hazard (n.)
an obstacle on a golf course;
From wordnet.princeton.edu