Pronunciation: (pär'lā, -lē), [key]
1. 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.
a bet of an original sum and the subsequent winnings.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.