From Cambridge in Colour.
So which is better: RAW or JPEG? There is no single answer, as this depends on the type of photography you are doing. In most cases, RAW files will provide the best solution due to their technical advantages and the decreasing cost of large memory cards. RAW files give the photographer far more control, but with this comes the trade-off of speed, storage space and ease of use. The RAW trade-off is sometimes not worth it for sports and press photographers, although landscape and most fine art photographers often choose RAW in order to maximize the image quality potential of their digital camera.