Forbes did an article on search arbitrage Friday featuring interviews of Jeremy Shoemaker and Michael Gray. Shoemaker said he had made $2 million over the past two years arbitraging Google.
"He (Shoemaker) estimates that around 50 people are earning more than $1 million a year from Adwords arbitrage, some making several million a month. Web marketers following the scheme agree Schoemaker's estimates are in the ballpark," Forbes wrote.
The story reported Shoemaker said he uses cloaking to show searchers a page of ads while the Google spider sees other content.
According to Shoemaker the Forbes reporter misinterpreted him. His reply can be found here.
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) will bring together the industry's leading online marketing practitioners to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, the comprehensive agenda will help you maximize your marketing efforts and ROI. Register today!