From Mainstream Webmasters comes this article about ways to set up Affiliate Marketing Without a Website. http://mainstreamwebmasters.com/article2021.html

While it is always your best bet to have a personal website to sell your affiliate marketing links through, it is not needed in order to succeed. There are several very common methods of marketing that will still put your message in front of a world of customers. The most common form of affiliate marketing is through commercial email.

There are many ways to develop double-optin email lists as you will not want to "spam" potential customers with unsolicited advertising emails. You can, for example, enter an ebook or software product to an online Giveaway event to build a mailing list without needing your own website. Coupled with an account with a professional autoresponder company, you will have a powerful advertising tool. Remember to keep your email messages brief and friendly with the hyperlink to your affiliate product's webpage included.

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Another method for affiliate marketing without owning a website would be to use hosting provided by the sponsor to setup free sites.

You could also build a huge circle jerk of blogs using adult free hosted domains. Link them around to one another, get them onto blog directories, do some blogroll trades and you can create a very profitable marketing tool.

If any of you have used, or know of, other methods please share~!