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Bait-and-switch is a form of fraud, most commonly used in retail sales but also applicable to other contexts. The only thing you must do here is speak with the webmaster of a website in your niche and convince him that if would be for the benefit for both of you if you would exchange links — he will get some visitors from you and you will get some from him. It all depends on when the ad is being shown. Here it comes to the legal part of creating an adult website. They also earn money through direct advertisements, like selling ad spaces directly to the advertisers.