It's hit or miss, and there might still be some reputable companies out there doing it, but if so, they're likely in your local area.
I've done phone readings/IM readings before for companies, and I don't think the industry ever recovered from the Miss Cleo scandal.
The best places were the ones where clients had already pre-bought blocks of time at not-outrageous prices, or some type of subscription. Those ones usually required six or seven test readings, and reference checks, but you could make $500 a week pretty easily working 20 hours if you were good.
These days everything I've seen is the by-the-minute stuff, and it usually pays horribly, expects you to keep customers on the line no matter, etc., etc. And the contract terms are sheer hell.
We all have good days and bad days, and if they don't like you, they won't hire you. Or maybe you goofed a test reading - it happens, it's a high-pressure situation.
Chances are, though, that it wouldn't have been a very nice place to work anyway. I was glad when it was better, because if I needed money it was there to be made (though it wasn't my dream job, by any stretch), but that's changed so much now.
