The main differences between the two files are the size. RAW files are much bigger than a JPEG and any other image file formats. RAW files are also higher quality files that give the best possible image to edit. With JPEG files their smaller size makes it easier for fast transfers to software or sending the images. RAW files take longer to transfer also taking up way more space.
If shooting an important event, I would go with the safest option in shooting in JPEG to avoid in camera slowdown and making the transfers easier and keep space.
A RAW file can also be compressed into a JPEG. When doing this it makes the file smaller, and it loses data. Which can make the image appear pixilated or grainy.
Manual mode allows you to take complete control of everything. Auto mode tells your camera to use its best judgement to select shutter speed, aperture, ISO, white balance, focus and flash to take the best shot that it can. Portrait mode works best when you’re photographing a single subject so get in close enough to your subject (either by zooming in or walking closer) so that you’re photographing the head and shoulders of them). It’s great for shooting flowers, insects or other small objects. Different digital cameras will have macro modes with different capabilities including different focusing distances (usually between 2-10cm for point and shoot cameras). This mode is almost the exact opposite of portrait mode in that it sets the camera up with a small aperture (large number) to make sure as much of the scene you’re photographing will be in focus as possible (ie it gives you a large depth of field). Photographing moving objects is what sports mode (also called ‘action mode’ in some cameras) is designed for. It is ideal for photographing any moving objects including people playing sports, pets, cars, wildlife etc. Sports mode attempts to freeze the action by increasing the shutter speed. Night mode (a technique also called ‘slow shutter sync’) is for shooting in low light situations and sets your camera to use a longer shutter speed to help capture details of the background but it also fires off a flash to illuminate the foreground (and subject). Shutter priority mode controls everything automatically but your shutter. Helpful when wanting a faster shutter speed for sports or slower for a blur. Program mode is like auto, but you get more control over the white balance iso and other things.