There are a group of us at our BJJ club that regularly rotate who hosts PPV events. I don't like watching them at sports bars because usually too loud, you have to put up with "uneducated" spectators and the food is expensive!
At home, we usually BBQ first, have a good group of knowledgeable (and in many cases people who actually know the fighters) spectators that add a whole dimension to watching the events. Until recently we used to have one guy who is a respected MMA writer watch the events with us...he knew ALL the dirt!