I agree with Rusty. "Rifársela"/"rifarse" in slang means to face the risk of doing something dangerous. I think it means something similar to "jugársela".
It also often implies that the risk was worth it and it all went well; also, when used like this, it also means that someone did something very extraordinary, even when it wasn't dangerous at all.
- Me la rifé a presentar el examen sin haber estudiado. (I succeeded in an exam for which I did not study.)
- Juan me regaló un reloj muy caro. Se la rifó. (Juan did something I find awesome when he gave me that watch.)
- Los bomberos se la rifaron cuando entraron al edificio a rescatarme. (The firemen were brave and not only risked their lives to save me, but they succeeded epically.)
- "Las fuerzas armadas se la rifan por México" (This was said by Mexican President Enrique Peña in recognition of the Mexican Army's bravery.)
- Todos los que trabajamos en esta empresa nos la rifamos todos los días para hacerla crecer. (Our work and effort are focused on making this firm a successful business.)
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