Green’s Dictionary of Slang

raffles n.

(Aus.) a case of (second-rate) eggs.

[Aus]Laverton Mercury (WA) 31 Oct. 3/7: A whole case of eggs coming from many quarters gets the name of ‘raffles,’ and a certain kind of butter sold in large quantities is ‘promoted lard,’ while lard itself, even of the best kind, is termed ‘bullet grease.’.