I. ˈpärˌlā, ˈpȧˌlā also -_lē or -_li transitive verb
( -ed/-ing/-s )
Etymology: alteration of paroli (II)
1. : to bet (as money) in a parlay
2.
a. : to increase or otherwise transform into something of much greater value
parlay a few beat-up crates into a major airline — Newsweek
parlayed just four … $10 bills into a billion and a quarter dollar fortune — Robert Engler
b. : to utilize as a means to great gains or a desired objective
100 ways to parlay a good idea and very little cash into a fortune — advt
tried to parlay this Russophobia into a parliamentary career — Newsweek
II. noun
( -s )
1. : a proposed series of two or more bets in which the bettor selects all contingencies in advance and irrevocably bets the original stake plus any winnings on each successive contingency
2. : a risking of an original stake plus winnings or of an original investment plus earnings