What is Adsense Revenue Sharing?

A revenue sharing website is a site that hosts your content in exchange for a percentage of the advertising revenue.
It is important to note that they take a percentage of page impressions not a percentage of the income.
This means that if the agreement was 50:50, ads will be displayed 100% of the time on the pages with your content. Half of the time the ads will have your tracking code inserted and any clicks will be credited to your account. The other half of the time the hosting website's code will be featured in the ads and any clicks paid to them.
Why share the revenue?
The incentive for the hosting site is easy to see. You provide the content, they make some money. The reason this is a good deal for you is that your content is hosted on a site with a high PageRank that gets frequently indexed by search engines. Starting a blog or website from scratch can take months to begin to build traffic. It is not uncommon for articles posted on revenue sharing sites to be indexed in less than a day. They also get featured higher in the search engine results pages. This can see you getting traffic in a very short period of time. This effect is so great that experienced campaigners frequently report that the percentage going to the host site is a bargain.
The Two Types of Revenue Sharing Sites
Some sites are for publishing article length content. Two of the most famous are Squidoo and Hubpages. Having previously used both I am now spending all of my time on hubpages. In my experience it gets much more google-love with search engine traffic arriving quickly. It also has an active forum that has been my primary source of information as I learned about earning an income online. There are many helpful members who are very successful internet entrepreneurs. I can't recommend it enough.
The other type of revenue sharing sites are used for creating backlinks. This is a very effective use of your time as you get both a backlink and the chance to earn revenue. You should get into the habit of entering every blog post or new article into as many of the following as you can. Just don't forget to add your adsense ID when you sign up.
Shetoldme Xomba Snipsly
and if you are writing a blog:
YouSayToo

The way to maximize your income is to write your primary content on a site like hubpages, then create backlinks to that article at each of the revenue sharing sites listed above. With practice it only takes a little extra time and this strategy will increase both traffic and income.