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Definition of "parlay" [par•lay]

  • To bet (an original wager and its winnings) on a subsequent event. (verb-transitive)
  • To maneuver (an asset) to great advantage: parlayed some small investments into a large fortune. (verb-transitive)
  • A bet comprising the sum of a prior wager plus its winnings or a series of bets made in such a manner. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Use "parlay" in a sentence
  • "All of the individual bets must win, so a parlay is an all-or-nothing wager."
  • "So while the odds of hitting a parlay are smaller than winning a single bet, the payout for a winning parlay is much larger."
  • "A parlay is a single wager that links together several individual bets."