How to use MySQL built-in functions in Laravel DB::raw()

I am using an sql query like the following with the MySQL built in ADDDATE() function in Laravel Query Builder to increment the date by 1 day.

$sql = "UPDATE my_table
        SET date_col = ADDDATE(date_col, INTERVAL 1 DAY)
        WHERE id = {$the_id}";

DB::update($sql);

This is working fine and there is no reason to really change it. However, I first tried to use Query Builder with DB::raw as follows.

DB::table('my_table')
   ->where('id',$the_id)
   ->update(['date_col'=> DB::raw(ADDDATE(date_col, INTERVAL 1 DAY)]);

Is it possible to use the MySQL functions in this way? Is my syntax wrong or what?

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