The advantage of this method is that it is not intrusive. One can sell text links directly through his website or use specialized networks like Text-Link-Ads and Text-Link-Brokers to automate the process. Below are some of the popular links.
1. Text Link Ads
The leader in paid text link ads.

2. LinkWorth
Keep up to 70% of the ad revenue.

3. Text Link Brokers
Make money buy selling links in a directory on your site.

4. Live Customer
Static HTML ads with flat monthly rates.

5. LinkAdage
Matches advertisers with publishers

6. Direct-Link-Ads
Keep up to 75% of the ad revenue.

7. PaidTextLinks
A smaller text link program.

8. Kontera
Create contextual links automatically.

9. AdSter
Customize your ads to match your website.

10. Vibrant Media
Vibrant in-text advertising.

11. TextAd.biz
Basic text ad service.

Cheers!
Patrick
2 Responses
Christopher Taylor
May 19th, 2010 at 6:03 pm
1I have used Kontera on one of my blogs and i earn good from this ad program.,:.
Dylan White
September 9th, 2010 at 10:52 pm
2Kontera pays well even if they do not pay as high as other advertisers-*;
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