If you live in the US and are posting a lot of videos to YouTube you could now very well mint millions, as the AdSense for Video beta has come out of its pilot and has made a debut as a beta, informs the Google AdSense Blog. Once you sign up for the AdSense for Video beta you can begin reaping the benefits.

The AdSense for video has been in pilot since May last year. The video units to adsense were also made available to publishers in the US in October last year. This time around as well the service is available to the publishers in the US. Since the release of the pilot, the service was only available to the a select few advertisers, a bit too select perhaps, but now it's different

The beta release comes in the wake of the trend that more and more publishers are quickly adding video to their sites while looking for ways to earn additional revenue.

"…we've tested a variety of ad formats with the interest of users, publishers and advertisers in mind" said Ryan Hayward and Lilly Wolfson Google's AdSense Product Marketing/Publisher Support. "As a result, we've decided that AdSense for video will use the InVideo ads adopted on our own property, YouTube, which enable advertisers to make a single buy at scale."

Also in competition, and unique to AdSense for video and AdSense video units, are the text overlay ads which are contextually targeted to signals in the videos and on the page where the video lives. The InVideo ads recieve a payment on a CPM basis, on the other hand the text overlay ads are paid on a CPC basis.

You can check out the ad demos here.

The AdSense for video is available to publishers who, at least serve one million video streams each month and are based in the U.S. with English language sites. However, in the near future, the program is slated to be expanded to serve more publishers of various sizes and locations.

Google is still moving ahead with tests on a variety of ad formats, and thinks that overlays are the best way to balance user experience with the needs of the publishers. Moreover, they've been working with a number of video partners (e.g. popular destinations like BobVila.com, eHow, MyDamnChannel, ExpertVillage, PinkBike, TheNewsRoom, and social video aggregators like Revver, blip.tv, and GodTube) and several key video platform solution solutions like Brightcove, Yume, Tremor Media, and Eyespot Network, who have plugged our ads into their platforms.

In case you would like to know more about how this offering differs from the other video advertising solutions that AdSense (and YouTube) have released in the last year. You can visit Google's site dedicated to the video ad solutions here.

To be able to avail AdSense for video beta and apply for the service, you would need to visit the AdSense for video page on the Google Video Advertising Solutions site.