'parlay' definitions:

Definition of 'parlay'

From: WordNet
noun
A series of wagers in which the winnings from one wager are used as a stake for the subsequent wagers
verb
Stake winnings from one bet on a subsequent wager [syn: parlay, double up]

Definition of 'parlay'

From: GCIDE
  • parlay \par"lay\ n. The act of betting the winnings from a prior bet, plus the original stake, on a subsequent bet; the second or later such bet in a series; also, a series of such bets, with the stakes for later bets coming from the winnings of earlier bets.
  • Note: This is the characteristic act in a common betting system used by gamblers to try to achieve a large win from a small initial stake. Statistically, it is similar to betting a small stake on a game with a large payoff, but with a proportionately small chance of winning. [PJC]

Definition of 'parlay'

From: GCIDE
  • parlay \par"lay\ v. t.
  • 1. To wager the winnings plus the initial stake of one bet on a subsequent wager, or to engage in a series of such increased wagers.
  • Note: This is the characteristic act in a common betting system used by gamblers to try to achieve a large win from a small initial stake. Statistically, it is similar to betting a small stake on a game with a large payoff and a proportionately small chance of winning. [PJC]
  • 2. To exploit success in one endeavor so as to achieve greater success in subsequent endeavors. [PJC]
  • 3. Fig., to transform a gain into something of greater value. [PJC]

Synonyms of 'parlay'

From: Moby Thesaurus