punt vs parlay

punt and parlay both are nouns.

Word	Noun	Adjective	Verb	Adverb
punt	Yes	No	Yes	No
parlay	Yes	No	Yes	No

As verbs, parlay is a hyponym of punt; that is, parlay is a word with a more specific, narrower meaning than punt:

Other hyponyms of punt include ante, double up.

punt (noun)	parlay (noun)
formerly the basic unit of money in Ireland; equal to 100 pence	a series of wagers in which the winnings from one wager are used as a stake for the subsequent wagers
(football) a kick in which the football is dropped from the hands and kicked before it touches the ground
an open flat-bottomed boat used in shallow waters and propelled by a long pole

punt (verb)	parlay (verb)
place a bet on	stake winnings from one bet on a subsequent wager
propel with a pole
kick the ball