In this case study, Google is bragging that one of their advertisers is using AdSense to more than cover his AdWords advertising costs:
https://www.google.com/adsense/medicalcoding
It's not *true* arbitrage, as he's actually selling products as well, but it does seem to be a sort of implicit permission by Google to do that sort of thing.
https://www.google.com/adsense/medicalcoding
It's not *true* arbitrage, as he's actually selling products as well, but it does seem to be a sort of implicit permission by Google to do that sort of thing.