If you frequent any of the AdSense forums chances are you've come across the phrase "AdSense Arbitrage", while it's been around for a while a lot of people don't understand what it is, or how it works.
The basic principle is to pay for a low price for keyword in an advertising program like AdWords, Yahoo Search Marketing, or MSN AdCenter and direct users to a page with AdSense or another contextual advertising program on it that has higher payout. You can either bid low on the same term, looking for keywords with a large bid gap or you can bid on very specific keywords with little competiton and drive them to page with ads for a more general and competitive term.
Getting your first campaign up, running and making a profit is definitely the hardest part. You probably are going to have to micromanage it for a week or two. AdSense arbitrage isn't rocket science but you do have to be on the ball, and it's not for the faint of heart.
I've been doing AdSense arbitrage profitably for a few months, so I can explain how I do it and share a few tips I've picked up. I'll take you through some real keyword options, and I'll go over some ideas for automating the process I learned recently.
