Don't bet if you don't know the odds...
You need to convert your bitmap to .psd, but will have to convert it to Grayscale first.
Once you have it as a .psd, you will need to UNLOCK the Background Layer, as your image will be titled in the Layers Palette.
Once you have converted the image into Layer '0', you can rotate it via Image>Rotate, or you can rotate it through Edit>Transform>Rotate, or simply hit Ctrl (Command)+'T' to bring up the Free Transform tool, and then rotate it by the corners...
Trust me, you have no idea of just how powerful Photoshop is, if you think a little thing like rotating a bitmap can't be done. Stay away from the racetrack, you'll only lose your money...