Does more Internet speed mean better Online gaming?

Ping is the amount of time it takes for some tiny info packets to travel from your computer to a remote computer (a server) and back again. So upload and download speeds play a part in your pingtime, but there are other factors: responsiveness of your computer, responsiveness and congestion (other traffic) through the remote server, how many hops the information has to make between your computer and the remote one, etc. If you run a speedtest at speetest.net, do your results match the speeds you were promised by your internet provider? If not, you might want to call them for help troubleshooting what might be causing that. If your speeds are okay but your pingtime is still bad, you might want to call the game manufacturer to see what you can try.