There are three different ways of interpreting the bible.
The literal view, the liberal view and the conservative view. Christians that take the literal view think that everything in the bible is the literal word of God, and do not believe any of it is meant in a metaphorical way. People that take the liberal point of view believe it is the word of God but think it is wrong to question it. And Christians who take the conservative point of view believe that some things in the bible are to be taken in a metaphorical way.
In liturgical churches, bible passages are read in a lectionary, which is a set routine for the readings. The passages that are read, weekly at services, are chosen to suit the congregation, so they will be able to relate the readings to their everyday lives. Passages are also chosen in-sync with festivals. For example, the story of the last supper will be told on Easter and the birth of Jesus will be read on Christmas.
Non Liturgical worship, the bible is used in a similar way. In many non-liturgical churches, the sermon preaches to the members, referring to the bible. In my evangelic church, preaches are given to the congregation to help them understand the bible and help them become better people. There is no set liturgy in these churches, and the services are quite spontaneous, so any part of the bible could be read.
The bible is also read during large services such as Christenings, marriages and funerals, where not all of the people there may be Christians. In these services there will often be breaks to reflect upon the readings.
The Bible is used in private worship as a source of comfort, assistance, advice and guidance for everyday life. It often helps people a lot in time of grievance: Psalm (73:26 my flesh and my heart may fail,
but God is the strength of my heart
and my portion forever.)
Some Christians read the bible continually over and over again to strengthen their faith and to express their devotion for God. This is done in every aspect of the Christian faith.