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What does parlay mean?

Looking for the meaning or definition of the word parlay? Here's what it means.

Verb
  1. (transitive) To carry forward the stake and winnings from a bet onto a subsequent wager.
  2. (by extension) To increase.
  3. To speak about peace. To have peace talks. See also: pow-wow.
  4. (transitive) To convert into something better.
Noun
  1. Such a bet or series of bets.
  2. A negotiation session, especially one negotiating a treaty.
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