It depends on the game. As long as you have 'enough' bandwidth, latency is really the only factor however some games use a lot more than other. BF5 is the biggest offender I know of and can use up to about 10mbps. A game like rocket league would probably do fine with half a mbps, so long as the latency is good.
Latency is how fast the info travels and bandwidth is how much data at once. A better latency is always good but higher bandwidth will make little to no difference so long as you have enough for the games you play.
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