Fardringle, you're a little off.
A hub operates at layer1 - it REPEATS the incoming electricial signaling across all ports. It effectively acts at a big bus. It doesn't care about broadcasting as that operates at layer2.
A switch operates at layer2 - it BRIDGES incoming FRAMES to the intended receiver of that frame. A frame/L2 header for ethernet contains the source and destination datalink layer address.
At the datalink layer there are three kinds of frames - unicast (1 to 1), broadcast (1 to all) and multicast (1 to many). LAN games do not use broadcast traffic except for possibly finding other servers or players. From there it is all unicast - client and server.
Is there any difference for a lan party? Yes, hubs are dead, the year is 2008. With a hub additional delay is added to the sending and receiving of frames if there is a collision. Switches don't experience collisions because every port can send/receive at the same time. A hub is like a big walkie-talkie, somebody has to finish sending before anybody else can. If you want the details google CSMACD.