This site http://www.restaurant.com/ allows you to buy gift certificates to participating local restaurants at a percentage of their "actual" cost.
Sign up for their mailing list and you'll receive regular offers for further discounts, even up to 80% off.
Obviously there are some things to keep in mind:
The gift certificates do not provide "change" back, so if you pay for a $20 meal with a $50 gift certificate, you're not going to get any cash back.
They typically expire within six months of purchase (which is pretty liberal).
Make sure you have the correct location. Some restaurants have multiple locations but not all of them will accept the certificates.
Some don't allow the gift certificate to be used for alcohol, so read the description carefully.
Some may have restrictions about how often gift certificates can be used (i.e. only one visit a month).
If the restaurant closes, you may be out of luck (although the one time that happened to me I emailed the site and they happily exchanged the gc for another restaurant).
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