The lake is part of a chain of glacially formed lakes in northern Wisconsin which were carved during the Last Ice Age.[3] It is characterized for its round shape, and historically held the name of Gawawiegamag, meaning "lake is round" in Ojibwe.[4] The lake was travelled extensively by the Ottawa before European settlement which started in the late 18th century. Beginning around 1784, the area around Round Lake became attractive to French trappers and settlers who relied on the lake and its connections to the Namekagon and Chippewa Rivers to transport their goods for trade and sale.[5] Sawyer County was officially established in 1853, and neighboring towns would arise between then and 1913.[5] These early towns heavily relied on logging and fur-trading, with agriculture playing a growing role in modern times.[6] The lake is noted for being exceptionally clear. There are three boat launches located around the lake.[2] The lake flows into the Flambeau River, and this is controlled by an old dam constructed for logging transportation purposes.
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