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1.
When you can't host a party/event/game yourself but offer to pay for all or some of the supplies.
Adam: "Hey guys, sorry, I can't host the poker game next week. I'll ghost host though & pay for the beer"
by JC McJeezy October 16, 2012
 
2.
When you host someone overnight in your home, and you are away the entire time.
You were such a wonderful Ghosthost last weekend, but next time I hope we get to see you!
by BadgerMatt November 07, 2013