Raschke debuted in the American Wrestling Association in 1966 as a referee.
Raschke eventually made his way to the World Wide Wrestling Federation (WWWF). Managed by Fred Blassie, Von Raschke's highest-profile match of his 1970's WWWF run came in March 1977, where he wrestled WWWF World Heavyweight Champion Bruno Sammartino for the title at Madison Square Garden in New York. Von Raschke lost the match by disqualification when, after Sammartino became tied up in the ropes, he shoved the referee away as he had his clawhold applied to Sammartino's head. Sammartino defeated Von Raschke in a rematch a month later at Madison Square Garden, marking Sammartino's last successful title defense before losing the belt to Superstar Billy Graham.
In May 1984, Raschke and The Crusher defeated Jerry Blackwell and Ken Patera for the AWA World Tag Team Championship. They would lose the belts in August of that same year to The Road Warriors.
In 1986, he wrestled for World Championship Wrestling (WCW), where he reunited with former tag partner Paul Jones (who was now a manager) as part of Paul Jones' Army. He also filled in for the injured Krusher Khruschev, defending the WCW World Six-Man Tag Team Championship with Ivan and Nikita Koloff. Toward the end of his run there he turned "face" against Jones and teamed with Hector Guerrero, defeating the Barbarian and Pez Whatley at Starrcade. After teaming with Wahoo McDaniel at the 1987 Crockett Cup, he left WCW.
He had a brief stint in the World Wrestling Federation in 1988 as the manager for The Barbarian and The Warlord (The Powers of Pain) under the name of The Baron, but was released shortly after his arrival.
Raschke resurfaced in the AWA, returning to the ring to feud with Soldat Ustinov and Teijho Khan in late 1988. He then went on to captain "Baron's Blitzers" during the Team Challenge Series.
Raschke also took part in one of the legends matches at WCW's inaugural Slamboree: A Legend's Reunion in 1993. He teamed with Ivan Koloff, losing to Thunderbolt Patterson and Brad Armstrong.