Raičević was born on May 19, 1971, in Podgorica, SR Montenegro, SFR Yugoslavia. He is one of the leading chess players in Montenegro and a regular participant in the Chess Olympiad, representing Montenegro in 2008, 2010, 2016 and 2018.

During his active career, he participated in tournaments around world achieving notable successes in Greece, Azerbaijan, Serbia, and Bosna Herzegovina.