<p><strong>Noun:</strong></p><ul><li>A form of lottery in which a number of persons buy one or more chances to win a prize.</li></ul><p><strong>Verb:</strong></p><ul><li>(used with object) to dispose of by a raffle (often followed by off): to raffle off a watch.</li><li>(used without object) to take part in a raffle.</li></ul>