verb
(ambitransitive, gambling) To carry forward the stake and winnings from a bet on to a subsequent wager or series of wagers.
(transitive, by extension) To increase (an asset, money, etc.) by gambling or investing in a daring manner.
(transitive, by extension, generally) To convert (a situation, thing, etc.) into something better.
(intransitive) Alternative spelling of parley (“to have a discussion, especially one between enemies”).
noun
(originally US, gambling) A bet or series of bets where the stake and winnings are cumulatively carried forward; an accumulator.