Lottery raised a good deal — order British to split it (7)
I believe the answer is:
tombola
'lottery' is the definition.
(I know that tombola is a type of lottery)
'raised a good deal order british to split it' is the wordplay.
'raised' is a reversal indicator (going up in a down clue).
'good deal' becomes 'lot' (a good deal of something).
'order' becomes 'om' (Order of Merit).
'british' becomes 'b' (abbreviation e.g. in 'BBC').
'to split it' is an insertion indicator (some letters split others apart).
'a'+'lot'='alot'
'alot' in reverse letter order is 'tola'.
'om'+'b'='omb'
'tola' going around 'omb' is 'TOMBOLA'.
(Other definitions for tombola that I've seen before include "Form of lottery" , "Game played at fetes" , "Type of lottery" , "Ticket-drawing game" , "Rotating drum game" .)