1.NounThe team that is playing in the usual area that they play in, as opposed to their opponents, the visiting team.
"The home team really pulled off a surprise in the bottom of the ninth. It made for some really exciting baseball for all these lucky fans out here today."
2.NounThe ingroup .
"Let's have a round of applause for the home team, as these quarterly production numbers are a big win.; Dang, I wish she played for the home team, because I would love to date her. [Said by one straight person to another in reference to a gay person.]"