to bet or gamble (an original amount and its winnings) on a subsequent race, contest, etc.

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.

verb

engineer , gamble , jockey , lay down , manage , move , plan , play , risk , speculate , venture , wagernotes:parlay means to use one gain to make another; parley is to discuss (or as a noun , conference or discussion)