Having discovered this forum a few years ago, and from knowing absolutely nothing about SEO or affiliate marketing my website is now doing well for a number of online betting related keywords and has a PR of 7. I have not spent a penny on advertising/ppc but was thinking of taking the next step -

Is it wise/do people pay for front page links? ie. should I pay for a front page slot on a PR8+ website? (with content relevant to mine)

Or is it just best to stick it all in adwords or something?

What sort of proportion of income do people spend on advertising/ppc? For example, if you have £1000 to spend how much is advisable to put away for advertsing?

Any advice greatly appreciated!
Cheers people!