to bet or gamble (an original amount and its winnings) on a subsequent race, contest, etc.
2.
Informal.to use (one's money, talent, or other assets) to achieve a desired objective, as spectacular wealth or success: He parlayed a modest inheritance into a fortune.
noun
3.
a bet of an original sum and the subsequent winnings.
Origin: 1820–30, Americanism; alteration of earlier paroli < French < Neapolitan Italian, plural of parolo, perhaps derivative of paro equal < Latinpār; see pair
1701, term in the card game faro, from Fr. parole, from It. parole (Neapolitan paroli) "words, promises," pl. of parolo (see parole). Meaning "exploit to advantage" is from 1942.