noun a cumulative series of bets in which winnings accruing from each transaction are used as a stake for a further bet
verb to exploit successfully
In finance, to parlay is to reinvest profits from one investment into another, potentially increasing overall returns.
In gambling, to parlay is to repeatedly bet winnings on subsequent wagers in hopes of increasing overall winnings.
To parlay in negotiation is to use one successful outcome as leverage for achieving further gains in subsequent discussions.
Parlaying resources or opportunities refers to leveraging existing assets or advantages to achieve greater success or outcomes.
To parlay a bet is to combine multiple wagers into a single bet, with the potential for higher payouts if all wagers win.
In the writing world, 'parlay' is often used to describe the act of taking something and turning it into something greater or more profitable. Writers may parlay a successful blog into a book deal, for example.
Psychologists may use 'parlay' to describe the process of building upon a client's initial progress in therapy to achieve even greater breakthroughs or improvements in mental health.
Entrepreneurs may use 'parlay' to describe the strategy of reinvesting profits from one successful venture into another potentially more lucrative opportunity.
In the world of sports betting, 'parlay' is a common term used to describe a single bet that combines two or more individual bets and requires all bets to be correct in order to win.