parlayparlay pronunciation: par leI [or] par li [or] par leI parts of speech: transitive verb, noun features: Word Combinations . part of speech: transitive verb: inflections: parlays, parlaying, parlayed:What Is An NBA Parlay Bet . An NBA parlay bet is a single NBA wager with multiple selections, each selection must-win for the bet to cash, but the odds of each selection are multiplied to offer much bger odds. You can combine a