24 hour dedicated server

Hello, I am very into the idea of buying or renting a 24 hour server for Teeworlds. I would like to inform that i HAVE done research and searched the forums so i could not think of any better place to ask these questions. First of all, how do I host a server that I would buy and where would i buy it. Second, what is a dedicated server what is the difference between it and a normal server. Third, what would the cost be? btw i am not wanting to host a server on my computer or on my network, that is why i posted this topic.