If your rooted, use root explorer to the following steps this also depends on the phone but I'm on a GS4.
Go to root, system, usr, keylayout, scroll down to the file gpio-keys.kl and open with text editor. You'll see the key layout for wake selections on the one listed as HOME delete the word wake and all the spaces between it, now hit menu and save and exit.
Once that's done reboot the phone and the home button won't wake the device anymore.
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