The main difference between RAW and JPEG files are that RAW files contain more image data and are generally more detailed than JPEG files, which are compressed and easier to share.
RAW files are larger by two to six times compared to JPEGs.
Once on the computer you can convert RAW files to JPEG ones. This is by converting it on the computer on Photoshop, there you can edit and compress the image into a JPEG.
When shooting an important event I would shoot in RAW as it preserves the quality and details of the photos. I would also prepare for shooting in RAW with increased storage for those large files.