1. A kind of lottery, in which several persons pay, in shares, the value of something put up as a stake, and then determine by chance (as by casting dice) which one of them shall become the sole possessor.
  2. A game of dice in which he who threw three alike won all the stakes.

v. i.

  1. To engage in a raffle; as, to raffle for a watch.

v. t.

  1. To dispose of by means of a raffle; -- often followed by off; as, to raffle off a horse.