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It could be a good thing when you use the sponsor's name as the anchor text.
If you're familiar with Google Bombing, if you have a sufficient number of outbound links to a sponsor link (with the paysite name as anchor text), you could show up at the top SERP listings if a surfer enters in the paysite name in Google (the paysite URL will have your aff link attached).
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<a href="http://www.joes-porn-shack.com/cgi-bin/links2/add.cgi"><img src="http://www.joes-porn-shack.com/images/joes120x60.gif" width="120" height="60" alt="Submit to Joe's Porn Shack"></a>
Joe's Porn Shack = Golden SE traffic
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