Define parlay: to use or develop (something) to get something else that has greater value — parlay in a sentence.
tr.v. par·layed, par·lay·ing, par·lays. 1. To bet (an original wager and its winnings) on a subsequent event. 2. To use to great advantage or transform into.
turn an initial stake or winnings from a previous bet int Meaning, pronunciation, example sentences, and more from Oxford Dictionaries.