If you are planning to use blogspot blog, Please make sure that you are using a custom domain. So in future if you are planning to host your blog in a different server, it will help you.
Create 14 niche blogs with blogspot.. you will earn more than that.. it's hard to make it with only one..
Thank you everyone for confirming that it's possible and removing all doubts. I will take action now and create 5+ niche blogspots since I'm really motivated. (I chose blogspot over paid hosting and domain because I don't have enough capital yet.) I have a 4 year old blogspot, but with only 4 posts (all unique). If I apply for an Adsense account now, will they approve me since it's an old blog, or will they not since it has only 4 posts? Which is more important for Adsense approval, age of the blog or the number of posts?
It is really interesting. First you asked about free blogging platform and its scope. Now you are asking about adsense account itself. Dude you need to have something on hand to make money.Now a days it is hard to get adsense approved especially from Asia. Build up a good blog and then apply meanwhile generate some income from other affiliate programs like infolinks or clickbank to have your own domain. But personaly I do not find any problem with sub domain but for its restrictions. That way even CPC programs also have some restrictions . The best is to have your domain with independant ads . But then also you are dependant on search engines, especially Google for the traffic. We are dependant on many on many ways. There is no real freedom.
It is possible to earn from a blogspot blog. Not all people are so techie to even care about subdomains. As long as you have the target audience you will get clicks.
I know few guys which ones earn 50+ $/day just with blogspot. Anyway to earn money like that u need to have a lot of traffic and to get traffic is the hardest job.