parlay

As a verb parlay is

to carry forward the stake and winnings from a bet onto a subsequent wager.

As a noun parlay is

such a bet or series of bets.

As nouns the difference between parlay and gambler

is that parlay is such a bet or series of bets while gambler is one who plays at a game of chance, who gambles.

As a verb parlay

is to carry forward the stake and winnings from a bet onto a subsequent wager.