[par.lay] vt [F paroli, n., parlay, fr. It dial., pl. of parolo, perh. fr. paro equal, fr. L par] (1828) 1: to bet in a parlay
2. a: to exploit successfully b: to increase or otherwise transform into something of much greater value
[2]parlay n (1904): a series of two or more bets so set up in advance that the original stake plus its winnings are risked on the successive wagers; broadly: the fresh risking of an original stake together with its winnings