I use Jeopardy in two different ways, depending on my goal.
However, instead of having students make a question (like on the TV show), I ask a question and they give just the answer. This works better for me, since my students are lower level.
The setup is the same: 5 or 6 categories with 5-6 questions each. I usually go with 10, 20, 30, 40, 50 point questions. Of course, the lower points are easier questions. In my larger classes (35-40 students), I divide them in to groups, usually 6. I sometimes have them turn their desks into groups. Sometimes I leave them in rows and have the 1st person stand for question 1; the 2nd person for question 2, and so on.
Here are the two ways I play:
1) Both my questions and the student �s answers are verbal. I used to subtract points for wrong answers, but later decided I wanted to be more "positive", so I award points for correct answers and deduct nothing for wrong answers (at least they are trying...).
2) Recently I have preferred using small whiteboards and having students write the answer. I like this way because of the scoring. Each team that can write the correct answer receives points, so often every team gets high scores. The first team to answer gets double points.
Hope this helps!