It needs to be officially licensed by the Gambling Commission if it's for commercial gain over £20K IIRC, so yes.
http://www.gamblingcommission.gov.uk/for-the-public/Fundraising-and-promotions/Advertising-and-promoting.aspx
That makes it very clear that lotteries (incl raffles) can only be promoted for good causes, not commercial gain. Not passing judgement here, just stating facts,