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The main problem with trying to send directly to a paysite is that most paysites already have someone directly linking to them - and unless you can outbid the person that already has that number one spot - Google will NOT let your ad show - however in every case Ive looked at which is a little over 1400 paysites, you can still get a good spot with a landing page as long as you dont do a redirect. There are some paysites where you couldnt get into the top 8 1st page spots without one heck of a bid - which then comes down to what type of ROI you want for your money - most that Ive calculated you could break even - but very few would get you a good enough percentage to make it worthwhile.
If you can find a paysite that doesnt have anyone linking directly, then you could still do well - if it were a well known paysite - otherwise you run into the same problem as above.
Its a game of searching through Googles lists of keyworded paysites that actually get searches - and hopefully you can find one. For generic keywords there are huge opportunities, but again it just takes some time and patience finding the ones that will return something (which also varies over the year)
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