Raffle, sweepstake (7)
I believe the answer is:
lottery
This clue is a double definition.
'raffle' is the first definition.
(I've seen this before)
'sweepstake' is the second definition.
(I've seen this before)
(Other definitions for lottery that I've seen before include "Sweepstake" , "chancy business" , "Game in which prizes are awarded by chance" , "Random prize game" , "A means of raising funds" .)