There are generally two formats you can spread for your home poker game — a tournament or a cash game. Let's look at each and then give you some things to think about as you decide which you want to have.
Tournaments vs. Cash Games
A home poker tournament is different from a cash game. In a cash game players buy in for different amounts of money, and are given chips based on the amount they've chosen. In a tournament, each player buys in for the same amount of money, receiving an equal stack of chips.
In a cash game, chips have a cash value, and players may exchange them for cash when they leave the game.