Assuming that you are talking specifically about website administration and design, like Davlin said you can make some pretty good money with game servers. The trick with this is to select a game that isn't oversaturated. For example, Davlin brought up Minecraft. Starting a brand new Minecraft server right now is probably not the best idea, because there are so many of them, you'll get lost in the shuffle.
If you have tons of content (and I do mean tons) you can use a donation system. Unfortunately, so many "webmasters" throw a donation system on their site with little to no content - and people just take the webmaster (rightfully so) as a scammer and leave. So if you're going to use donations - you better have something worth donating to. People will not donate to promises and potential.
Using advertising is a great way to make money on your site as well. You can either see your own ad space or use something like Google AdSense. This takes quite a bit of patience. Unless you're very lucky, it can take a year or two before you see any cash flow . . and that's only if you bust your hump and give people a reason to visit your site each and every day.
The bottom line is this. Unless you're willing to have patience and work really hard on your website over a long period of time, you're never going to make any money on it. You have to build up your site's content and reputation before you will see any dough.