They do real jousting at the tournament of kings in Las Vegas it's a dinner show once a week. The winning knight from last week gets to sit it out and be the "king" that presides over the event.

They wear full plate and armor pads and the bout is won whe you unseat the opponent. Lances for jousting are blunted and sometimes have something on the end like a fist or square end to give you more force but less pierce. The lances are also designed to break at a certain pressure to also not dismount yourself like you would if it was like a pole vaulting implement.