Internet search giant Google is making its entry into the in-game ad market with the launch of a public beta version of AdSense for Games. The advertising platform is somewhat limited in its usage right now, but is capable of displaying video ads “based on intended placements”, as well as the more traditional text and banner ads based on the contextual targeting model using tags supplied by the game’s developers.

As usual, the ad revenue will be split between Google and game developers or publishers. Google’s entry into the gaming space has long been anticipated and if anything it legitimizes the slowly growing in-game advertising industry with a huge shot in the arm. Initially, AdSense for Games will be primarily targeted at Flash casual games with partners like Mochi Media, Konami, Heavy Games and others.

We all know that in-game advertising can often be intrusive or downright annoying, but with game development costs spiraling ever higher, advertising in games isn’t going anywhere soon. The question is, then, how long until AdSense for Games makes its way to traditional PC games and consoles?