It is very easy to fall foul of Google’s Terms of Service and have your AdSense account suspended. This means terminated, because the huge majority are terminated for life. Competitors can bomb your pages with clicks which Google will regard as suspicious clicking activity – this results in termination of your account. Almost nobody gets their account reinstated.

Affiliate marketing will give the better opportunity to make the most money. AdSense will make you smaller amounts of cash regularly with very little maintenance. However, it needs a fair amount of traffic to be really profitable, while you can use a mailing list to sell your affiliate products. You can build up a large list over time, even with a small amount of daily traffic.
I’m actually going through setting up a few different sites that are only going to be monetized with Amazon. There are certain benefits to Amazon such as a well-known website and added items on purchases and then there are negatives as well such as low commission and short cookie span. I definitely think you have to choose higher priced items if you want to make decent money from Amazon.
Many affiliate programs will often run promotions with good discounts or giveaways that might be attractive to your audience. For example, if you're an Amazon Associate and the site have a big Holiday Sale, it would be the perfect opportunity for you to promote discounts to your website visitors. This is a great way to promote your offers while also providing good value to your audience. 
If you’re planning on relying on SEO for traffic which most people do, it’s all about finding keywords where people would be interested in purchasing an affiliate product, and analyzing the competition of each of those keywords. Back when I was promoting Genesis themes, I saw hardly any articles about “Genesis eCommerce themes” (when I Googled it) which was a popular keyword. I got myself #1 for it. For SiteGround and StackPath, I saw opportunities to write articles on “settings” for each cache plugin (W3 Total Cache Settings, WP Fastest Cache Settings, WP Super Cache Settings, etc). After researching these keywords I was confident I could write better tutorials that the ones out there.

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