To parlay something is to use or develop it in order to get something else of greater value. Parlay is often used with the word into.

// He hoped to parlay his basketball skills into a college scholarship.

// She parlayed $5,000 and years of hard work into a multimillion-dollar company.

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“Sometimes, celebrities parlay their name and following into big-time sales and hype—though, of course, not all of them (or their projects) are created equal.” — Lora Kelley, The Atlantic, 26 Nov. 2024

The word parlay originally belonged exclusively to gambling parlance, where to parlay is to take winnings from a previous bet, along with one’s original stake of money, and use them to make another bet or series of bets. The verb comes from the noun paroli, a borrowing from French—itself borrowed from Italian—that refers to a system of such betting. After decades of this specific use, not only did parlay start to be used as a noun synonymous with paroli, but English speakers upped the ante by using the verb figuratively in situations where someone uses or develops something—such as a skill or hard work—for the purpose of getting something else of even greater value.