parlay

1. A bet comprising the sum of a prior wager plus its winnings or a series of bets made in such a manner.

2. A series of two or more bets so set up in advance that the original stake plus its winnings are risked on the successive wagers.

3. The fresh risking of an original stake together with its winnings.

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1. To bet in a parlay.

2. To exploit successfully.

3. To increase or otherwise transform into something of much greater value.

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1. To bet (an original wager and its winnings) on a subsequent event.

2. To maneuver (an asset) to great advantage: parlayed some small investments into a large fortune.

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Here are some other words you could make with the letters parlay, you can also
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Top Words by points	Points	Word Game
parlay	11	Scrabble

2 Letters	Scrabble® Points
al	2
ar	2
ay	5
aa	2
ya	5
la	2
pa	4

3 Letters	Scrabble® Points
yar	6
yap	8
rya	6
ray	6
rap	5
pya	8
pry	8
ply	8
pay	8
pal	5
aal	3
ala	3
alp	5
lap	5
lar	3
lay	6
par	5

4 Letters	Scrabble® Points
paly	9
para	6
play	9
pray	9
aryl	7
alar	4
raya	7

5 Letters	Scrabble® Points
playa	10
alary	8

6 Letters	Scrabble® Points
parlay	11