Google Adsense for Domains is one such domain parking service to earn money from unused or dormant domains. The service creates a HTML (or XML) webpage filled with pay-per-click ads which is served to the user visiting the parked domain. Since the webpage has only links, there is a good possibility that user will click to navigate - and this user activity translates to revenue since the clicked link is an advertisement.
Article Source: http://labnol.blogspot.com/2005/11/google-adsense-domain-name-parking.html
With AdSense for domains, users can find relevant information rather than see empty pages or "page not found" errors. To ensure positive user experience and the quality of our network, these sites are monitored for policy compliance and prohibited from using text and images designed to confuse users.
Article Source: http://www.google.com/domainpark/
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