It depends on how the board is built now and what do you mean by raising it ?

Bases must be set at a certain distance from the inside edge of the pool wall. The length of the diving board will determine it's placement. The board must also conform to a certain measurement off the top of the water.

You should also consider finding out the measurements of your pool, to be sure it conforms to your existing board.

The pool depth, length of the hopper and the slope must conform to certain measurements to allow for diving and a diving board.

A good place to get information is from S.R. Smith. They manufacturer diving equipment and have those measurements available to compare.