This. Make them a money sink and untrade-able. So you spend say 400m on items but cannot get that money back. That way at least a portion of the money entering the games goes back out.
I had 6 def and 35 magic when i did this. You can safe spot behind the coffin, my second try (forgot the stake first try) i just bit the damage, which really wasn't much. 2nd tier magic spells hit him like a truck.