1. A method for encoding an input sequence of bins, the method comprising: parsing the input sequence into subsequences of bins, each subsequence of bins being associated with a respective one of a predefined number of probability estimates; parallel entropy coding the subsequences of bins to generate subsequences of codewords, wherein each subsequence of codewords is associated with its respective one of the predefined number of probability estimates; and interleaving the subsequences of codewords to form an encoded sequence by determining from a context model a first probability estimate, forming an ordered set of phrases, the first phrase in the set containing at least a portion of a codeword from the subsequence of codewords associated with the first probability estimate, each of the remaining phrases containing at least a portion of a codeword from the subsequence of codewords associated with a respective probability estimate, wherein the respective probability estimate is identified based on the first probability estimate, and repeating the determining and the forming until all the codewords from the subsequences of codewords are interleaved into sets of phrases, wherein the encoded sequence comprises a concatenation of the sets of phrases.