Meaning of the word parlay in English

What does parlay mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

parlay

US /ˈpɑːr.leɪ/
UK /ˈpɑː.li/

Verb

to use something that you have successfully to achieve something better

Example:
He managed to parlay his small winnings into a fortune.
She hopes to parlay her acting success into a directing career.

Noun

a cumulative bet in which winnings are risked on further wagers

Example:
He placed a parlay on three different horse races.
Winning the first bet allowed him to make a larger parlay.
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