A Ping is affected by EVERYTHING what's between your computer and the target, as well as by your TCP/IP settings. So if your stream is routed through server with a high volume throughput or your MTU is set wrong, you suffer.
I just wonder if the higher in-game ping is caused by the strain that the game itself puts on your computer.
It's just a theory. but if you Alt-tab out of the game, you could verify if the timing still differs.
To check if your MTU is set correctly it's a little awkward.
Valid packet sizes lie between 576 and 1500
Is the MTU too small, you're transmissions mainly consist of headers and not enough data to be effective.
Is the MTU too big the packets will be fragmented and take even longer to transmit
Even tho it's possible to set any number within range I seem to remember that it is recommended to keep the packet size a multiple of 16.
Ping itself adds 28 bites to the packet (20 bytes IP header and 8 Bytes IMCP header) so those 28 need to be subtracted first to get a working number.
In short MTU = x*16 + 28
The Test command would be like this:
Ping <server ip> -f -l <desired MTU -28>
so if you start at say 560 and work your way up until you found the smallest transfer time
ping 72.14.204.104 -f -l 560
Once you have your number open regedit and go to
HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\Tcpip\Parameters\Interfaces
there you have to go to your Adapter ID where you right click in the right window and create a new DWORD.
Name it MTU and give it your found number (don't forget to add 28

in the example it's 1350 decimal

If you find at one point it's not the right number anymore, either go through it again or just delete that key and rely on windows to do the right thing.
Again the standard warning : Don't mess with the registry if you're not sure what you're doing..at least generate a system restore point!
-DG