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A raise refers to having your salary increased or a higher bet in a gambling game such as poker. (noun)

An example of a raise is when you have your salary increased from $8/hr to $9/hr.
An example of a raise is when the original bet was $1 and someone bets $2.

To raise is to move or lift something upward, to increase the amount of something, to bring up an issue, trying to collect funds, bringing up a child, or betting more money than another player in a gambling game. (verb)

An example of raise is when you move a flag up a flag pole.
An example of raise is when you increase the amount you pay towards your mortgage each month.
An example of raise is when you bring the issue of guilt up in a discussion about whether you should take care of elderly parents.
An example of raise is when you try to solicit donations for a good cause.
An example of raise is when you bet $2 in a game when the person before you had bet only $1.

See raise in Webster's New World College Dictionary

transitive verb raised, raising

1. to cause to rise; move to a higher level; lift; elevate
2. to bring to or place in an upright position
to construct or erect (a building, etc.)
1. to wake from sleep
2. to stir up; arouse; incite: to raise a revolt
to increase in size, value, amount, etc.: to raise prices
to increase in degree, intensity, strength, etc.: to raise one's voice
to improve the position, rank, or situation of: to raise oneself from poverty
to cause to arise, appear, come, etc.; esp., to bring back as from death; reanimate: to raise the dead
to cause to come about; provoke; inspire: the joke raised a laugh
to bring forward for consideration: to raise a question
to collect, gather, or procure (an army, money, etc.)
to utter (a cry, shout, etc.)
to bring to an end; remove: to raise a siege
to cause to become light; leaven (bread, etc.)
1. to cause to grow or to breed: to raise corn or cattle
2. to bring up or rear (children)
to establish radio communication with
to cause (a blister) to form
to make (a nap on cloth) with teasels, etc.
☆ Commerce to increase by fraud the face value of (a check, etc.)
Naut. to cause (land, another ship, etc.) to seem to rise over the horizon by approaching it; come within sight of
☆ Bridge to increase (one's partner's bid in a suit or in no-trump)
Phonet. to change the sound of (a vowel) by putting the tongue in a higher position
☆ Poker to bet more than (the highest preceding bet or bettor)

intransitive verb

Dialectal to rise or arise
☆ Poker to increase the bet

noun

an act of raising
1. an increase in amount
2. ☆ an increase in salary or wages, or in a bet

See raise in American Heritage Dictionary 4

(rāz)

verb raised raised, rais·ing, rais·es

verb, transitive

To move to a higher position; elevate: raised the loads with a crane. See Synonyms at lift.
To set in an upright or erect position: raise a flagpole.
To erect or build: raise a new building.
To cause to arise, appear, or exist: The slap raised a welt.
To increase in size, quantity, or worth: raise an employee's salary.
To increase in intensity, degree, strength, or pitch: raised his voice.
To improve in rank or dignity; promote: raised her to management level.
a. To grow, especially in quantity; cultivate: raise corn and soybeans.
b. To breed and care for to maturity: raise cattle.
c. To bring up; rear: raise children.
d. To accustom to something from an early age: “Such amenities are … meant to make churchgoing attractive to a post-World War II generation raised on shopping malls and multiplex cinemas” (Gustav Niebuhr).
To put forward for consideration: raised an important question. See Synonyms at broach¹.
To voice; utter: raise a shout.
a. To awaken; arouse: noise that would raise the dead.
b. To stir up; instigate: raise a revolt.
c. To bring about; provoke: remarks intended to raise a laugh.
To make contact with by radio: couldn't raise the control tower after midnight.
To gather together; collect: raise money from the neighbors for a charity.
To cause (dough) to puff up.
To end (a siege) by withdrawing troops or forcing the enemy troops to withdraw.
To remove or withdraw (an order).
Games
a. To increase (a poker bet).
b. To bet more than (a preceding bettor in poker).
c. To increase the bid of (one's bridge partner).
Nautical To bring into sight by approaching nearer: raised the Cape.
To alter and increase fraudulently the written value of (a check, for example).
To cough up (phlegm).
21. Scots To make angry; enrage.