Preheat the oven to 325. Spray a 2 quart baking dish with non stick spray. place the bread cubes into the dish evenly.
Mix together the milk, eggs, sugar, salt, raisins, and vanilla and cinnamon. Pour mixture over the bread. Place any extra pieces of bread on the top and place butter around top of bread in small pieces and press down so they submerge. Let stand 10 minutes.
Bake covered for 30 minutes, then uncover and bake for 30 minutes more. Bread should be golden. Serve warm with butterscotch sauce.