Cheap good gaming laptop?

Cheap
Good
Gaming
Pick any two, only two.

Actually I'm using Lenovo i3 Ideapad z570 model. That is very faster and no hanging problem at the time of playing the game. Its very cheap and best.
Currently latest model of Lenovo Ideapad available in the market. You should go with that…

Well I recommend getting the ASUS G750JW-DB71 17.3-Inch Laptop

Great for gaming; we can argue very convincingly that the manufacturers of the Asus G750JW 17.3" laptop had the interests of gamers in mind. And this interest they really took care of. Every gamer knows that the best gaming computer must be fast, have high quality graphics, have great sound and sufficient storage space. The Asus G750JW laptop covers all these in the following ways;
•- It has NVIDIA® GeForce® GTX 765M 2GB DDR5 graphics that deliver great picture quality. Talking of picture quality, this laptop has a matte finish as opposed to the glossy screen finishing that we're used to seeing on most new laptops. The advantage here is that the former is not as reflective as the latter and this translates to better viewing.

•- It has 4th Gen Intel® Core™ i7-4700HQ processors. In addition to being among the fastest processors in the industry today, they are also very thermally efficient.

•- 12GB DDR3 RAM further increases the speed and performance of this laptop.

•- It comes with 1024 GB Hard Drive storage. This is more than enough space to store all your favorite games and movies and access them on the go. Still on storage, Asus have thrown in an additional free 32 GB of Asus cloud storage enabling users to access their data from anywhere.

•New 4th Gen Intel® Core™ i7-4700HQ processor delivers fast and thermally efficient performance for smooth gaming and multitasking
•Max out game settings with powerful NVIDIA® GeForce® GTX 765M 2GB DDR5 dedicated graphics for a no-compromise gaming experience
•Ultrafast data transfer and wireless connections speed with Thunderbolt™ and wireless 802.11 ac
•Intelligent thermal design with dual rear-venting fans that gets the heat out and away from the user for prolonged gaming
•Enhanced audio experience with ASUS SonicMaster technology and onboard headphone amplifier.
•2-second Instant On resume time from hibernate1 mode with worry-free auto data backup when battery falls below 5%
•32GB x 3 years free ASUS cloud storage (valued at $49.99)2
•1 year Accidental Damage Protection with 30 days Zero Bright Dot Guarantee ($99.99 value)

Check the link below to view more about it

http://amzn.to/...to/1hlc9XL

Wow… Very low budget for a gaming laptop… The best I can recommend for that budget is Lenovo ThinkPad Edge E545 http://www.amazon.com/...00HJB9UWC/
It has:
*AMD A6-5350M Dual Core Processor
*320GB 5400rpm Hard Disk Drive
* 8GB RAM (Excellent!)
*AMD Radeon HD 8450G Graphics Card

Asus X401U 14" Lapto.
It is really nice It is decent for working on things. If you have papers to type or things to do you will want this. If you ever considered a gaming laptop this one can handle games just not super high render like minecraft this one has got it for minecraft for ya.