I have to wonder how many people are clicking (tapping?) on these ads by mistake. When you play Paper Toss, the ad is in a band across the top of the screen and you are moving your finger towards it every time you make a throw. The ads I saw were not very relevant. For example one was for storage rental in California when I live in Ohio.
The mobile ad space at the moment reminds me of when AdSense came out a few years ago and all these web site were making huge amounts of money. Eventually Google tightened the rules and advertisers got a better handle on the real value of the ads. Now it is much more difficult to make good money unless you have a very high traffic site.