[R@f]

I have my own dedicated servers (two in France (OVH) and one in Switzerland (my machine hosted by a friend)). You have much more liberty by having a dedicated server because you can host multiple game servers, manage the resources like you want and solve problems by your own. Sometimes it's even cheaper to get a VPS or dedicated server ! But the main downside is that you need some specific knowledge to manage them.

If you want to buy VPS for a good price, check out OVH : http://www.ovh.com/fr/vps/
Or Kimsufi (OVH brand) for low price dedicated servers : http://www.kimsufi.com/fr/index.xml