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answers:

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My planned iphone application will work a remote https web service quite hard so until a user decides to upgrade from the free to pro version of my app I need to generate a trickle of click revenue per free user.

I would like to embed a single line adsense widget within a native cocoa-touch iPhone application. The UI control I have in mind might not exist but would work something like this. The control would occupy a fixed portion of my application's default view and would be initialized by my code and provided with key words determined by my application. The control would then periodically ping Google's adsense system and display a single clickable advert link.

If the user was interested in a link a click would result in an exit of my application followed by the opening of the advertiser's link in Safari.

Has anything like this been done before?

+3  A: 

You have to use a UIWebView with a Adsense unit inside it. I think when you are setting up a ad unit you can enter keywords.
This is most probably a violation of their terms, though. It may be a better idea to try using something else like http://www.admob.com/.

Isaac Waller
Thanks Admob looks interesting and after posting I found that Pinchmedia have a new service that hooks up to an Ad rotator within a native iPhone UI. However another survey at PinchMedia doubts the viability of click revenue from iPhone apps due to the short usage span of most downloads.
+1  A: 

Since AdSense requires the content of the page it's on to serve up relevant ads, you're likely to get nothing but PSA ads, since Google can't crawl your app.

And like Isaac says, I'm sure it's against the AdSense terms.

August
A: 

Google's Mobile Adsense is on the run:

TechCrunch article

Stefan