We demonstrate that the conical refraction of the input elegant Laguerre-Gaussian beams can be effectively described through generalized Bessel-Gaussian light beams. We performed numerical simulations and show good agreement between the exact solution and our proposed Bessel-Gaussian approximation model. Physical clarity of the proposed model has allowed us to explain the transition of the classical double-ring pattern of conical refraction in the Lloyd plane into a multi-ring one and predict new phenomenon such as the Raman spot shift and dependence of the conical refraction ring radius on the value of the orbital angular momentum.