I have a categorised paysite review site that I send all my 404 traffic through... this works well for me as the traffic can either be directed to specific niches within the site, the main page with all categories and also gives the 404er the opportunity to click on any other category.
I do this through one page on one domain so that I can take advantage of any special deals that sponsors may be offering at the time. That way it is an easy and quick change for a few days.
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