A raincheck is a voucher issued by a sports stadium after a rained-off fixture, allowing the holder to get in free for the next match. It's also been extended to have a figuratuve meaning - when someone turns down an invitation but wants to accept at a later date: 'I can't come round for a drink after work tonight, but can you give me a raincheck? I'd love to catch up with you.'
I don't know if the original (sporting) meaning or the figurative one is more common in Australian English.
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