Lately there are quite a number of banner advertising marketplaces that are available for bloggers to monetize their blogs. One of them is ViralBlogAds which I stumbled upon Michael Aulia’s Technology and Reviews blog.

If you have empty 125×125 banner ad slots, you can monetize them while waiting for some Private Advertisers to purchase banner ad slots on your site. You earn money on every click made by your visitors on each Banner Ad. You can leave at least one Banner Ad Slot to let potential advertisers know that you are accepting Ads on your site.

The VBA (ViralBlogAds) short javascript code does all the tricks of displaying the Banner Ads on your site. You don’t have to create your own codes just to display the ads. Just select how many Ad Slots you wish to create (say, 6 slots) and paste the code to where you want the Banner Ads to appear – its that simple. I was able to setup mine, in just 5 minutes – that includes Registration process, confirming email and setting up the codes.

Currently, two banner ads are supported: 125×125 and 468×60, in GIF, JPEG and PNG format. Payout are paid via PayPal. You can request a payout when your earnings reach USD25.00.

REFERRAL COMMISIONViralBlogAds is giving each approved Publisher who refers another Publishers 15% for life of all referral earnings. It’s not just a one-time referral payment. Let’s say you have referred 10 bloggers and the 10 bloggers earn a total of USD100.00 in a month, that’s USD15.00 per month earnings to you for life. This is something you wouldn’t want to miss, ‘aight? Also, you earn 20% of Ads spendings of any referred advertiser. Cool!

VBA is currently on Pre-launch, however, you can already REGISTER for a Publisher (and Advertiser) Account. Just click on the link to register (I would be very happy if you do that so I would earn 15% of your earnings for life :-). You may register more than website or blog. For a view at how the Banner Ads look like, you can check my right sidebar under the Entrecard Widget. You can also check out Bloggista.org.

So start monetizing now with Banner Ads that’s so simple to setup. Its a great way to earn money while eliminating that ugly look of all empty Banner Ads slots. VBA is also great in generating traffic, so you might as well try its Advertising package.

Another cool feature is the Banner Ad exchange – you can put up to 3 Banners of your sites or blogs to be displayed on another VBA Publisher sites just in case there are no available advertisers on certain slots. Also, VBA is sponsoring a Pre-Launch Contest starting September 1, 2008. All you have to do is to signup as Publisher, and achieve a click through rate of 0.2% or better, and you stand to win USD100.00 or more. Better check out the Pre-Launch Contest Information for more details.

I got to try this for a month and see how it performs and add some moolahs to my Paypal account.