We recommend that you use SimplyHosting/Tagadab servers to run the bot as we are using their servers sicne 2012. They are fast, reliable and their customer support will help you with any problems that you might get with your server.
Their data center is located in UK so your bot will have fast and reliable connection to Betfair, Betdaq or Matchbook servers.
VPS must satisfy minimum hardware requirements, those are explained in "What is minimum configuration to run the bot" article.
