Las Vegas is associated with either high-roller winners or cash-strapped losers. But there's a middle ground that, with savvy and discipline, offers gamblers fun on the cheap.

Michael Antink, an avid blackjack player for over 25 years and an accountant by trade, calls himself an “experienced cheap gambler,” sticking only to the $5 and $10 blackjack tables. He has developed a systematic approach—5 easy tips—to gaming that allows him to have fun and never break the bank—often leaving with more money than he arrived with. Following are his 5 tips.

Tip #1: Research the Casinos/Hotels. Do the legwork and find the best deal. Antink relies on several websites for his research, including <www.lasvegas.com>, affiliated with Southwest Airlines, and <www.vegas.com>, affiliated with U.S. Airways. These sites allow travelers to book both airfare and hotel for considerable savings.

Always the frugal traveler, Antink has stopped using the U.S. Airways site since the airline began charging $15 for the first checked bag and for onboard soda. But his last deal through U.S. Airways netted him a roundtrip, nonstop flight from Philadelphia and five nights at the Stratosphere Casino/Hotel—all for under $500.

Another website he uses is called Cheapo Vegas, which reviews all things casino-related in Las Vegas and Reno, Nevada. Categories include Cheapo Sleeps and Cheapo Thrills, along with ways to get discount coupons.

Tip #2: Join the Players Club. Every casino offers free membership in these clubs, which give players free and complimentary rewards that increase in value the more money spent gambling.

In his recent trip to Vegas, Antink’s rewards included a $25 cash coupon and $275 in comps (“complimentary”) that he applied toward his hotel and restaurant bills.

Antink cautions against “casino hopping” because rewards received at other casinos cannot be applied to your hotel. If you do casino hop, limit the amount you gamble to between $25 and $50. Exceptions are places like Harrahs, which have several casinos that honor the same players club rewards.

Tip #3: Don’t Chase Losses or Wins. Don’t play too emotionally. Don’t think you will recoup loses with a quick bet. “If you lost $100 and that’s your limit for the day, walk away,” Antink says.”

On the flip side, when you win big, take the money and run—or just take a stroll on the Vegas strip or Atlantic City boardwalk. “Even if you win big on the first $20—slots or tables—walk away,” he says.

Tip #4: Free Drinks are Not Free. Casinos offer free drinks because they know more alcohol equals less good judgment, which translate into more money in their pockets rather than yours. Antink never (well, almost never) drinks while gambling.

Tip #5: Enjoy Other Casino Amenities. Casinos very much like people to feel special and pampered, and they like their guests to have fun. That’s why Antink suggests gamblers leave the gaming floor long enough to enjoy many of the other attractions that casinos offer such as the spa, pool, restaurants, golf, etc.

A favorite anecdote of Antink’s involves his trip to the Grand Casino in Tunica, Mississippi. When he was there celebrating his 40th birthday four years ago, he tried skeet shooting offered by the casino. He missed every one of the 25 targets, but was hysterical with laughter during the whole episode. The proprietors, having enjoyed his devil-may-care attitude, presented him with a certificate that celebrated his “0% Accomplishment.”

It didn’t hurt either that Antink had earlier won $4000 on a $1 slot machine.