Bluff is a good party game, I have played it many times with many different guests. If playing with many people use 2 decks instead of 1 and only the people sitting close to the current player can Challenge - otherwise there is always somebody that wants to challenge and the game does not progress. Trick to winning (mostly) is to first bluff by playing your singles and then playing your real ones at the end of the ro…
I used to play Bluff as a kid, and we did not have the rule that only the next player can challenge. I agree that such a rule makes it better - and is necessary if you have more than 4 players. When we'd have, say, 6 players, almost every move would get challenged, and the winner usually was the one who never bluffs, which makes it a lot less fun.
If you're able to pay in front of the most risk-averse player you probably won't be called on as many bluffs. If you play behind the most risk-averse player you probably won't have to risk challenging much either.