I've used it in home games before. We used a special coin that looked different than the chips (silver dollar, for example).
Basically, the house would throw it in a (large, usually) pot to get it started. Winner gets it. He then posts it as a straddle when he's UTG (it has no value other than being used like this - it is NOT equal to 2 BBs for other betting purposes). It's just a standard straddle, but it didn't cost him anything.
Meh... I was never a big fan, but it probably did loosen up the game a little bit.
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