Interesting first match for Federer here. I think Raonic with +3 handicap is a good play here. You got two solid servers and I wouldn't be surprised to see this match settled in two tie-breaks. Have to rely on Raonic holding serve all the way because I don't know how many times he'll be able to break Federer on this surface, if any at all.
Raonic to win SU might also be a decent bet but I don't think I've seen enough from Raonic to back him at +250 against a player like Fed.