Definitions from Wiktionary (parlay)

▸ verb:  (ambitransitive, gambling) To carry forward the stake and winnings from a bet on to a subsequent wager or series of wagers.
▸ verb:  (transitive, by extension) To increase (an asset, money, etc.) by gambling or investing in a daring manner.
▸ verb:  (transitive, by extension, generally) To convert (a situation, thing, etc.) into something better.
▸ noun:  (originally US, gambling) A bet or series of bets where the stake and winnings are cumulatively carried forward; an accumulator.
▸ verb:  (intransitive) Alternative spelling of parley (“to have a discussion, especially one between enemies”) [(intransitive) To have a discussion, especially one between enemies.]
▸ Also see parlay

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