I've hosted jousting tournaments before. I didn't have much people join in but the few that did liked it. Equus and Lance's. If you don't come with your own your provided one. Lance is apprentice and equus is lvl 100. But like u said you are supposed to bring your own.
I don't play dedicated, but you could do a hunger games style mode. Behemoth gate off an area and have chests around that area with loot. Everyone goes in naked and only 1 survives.