Is it worth hosting a gaming server in Asia if half of my player base is in Singapore and the other half is in Australia? I need a VPS provider that won't give everyone a massive ping disadvantage.

You should definitely check this provider out if you want to keep your ping times balanced. HostZealot has great regional routing that handles traffic between SEA and Oceania surprisingly well. I set up a project there last month, and the stability has been rock solid. Just make sure to choose the specific location that aligns best with your core player hub.

Which location did you pick? Would Singapore be the sweet spot for Australian players, or does it still give them a noticeable ping disadvantage?

Go with Singapore. Aussie players get around 60-90ms there, which is totally playable, while local Singaporeans get single-digit latency.