Google definitely favors links that are part of sentences and phrases as opposed to standalone. The best way to do it is [html]keyword service for free[/html] Notice how it's a phrase or sentence with only the keyword hyperlinked, so as to not dilute the keyword value in the link. It also makes the link more natural sounding, and not appear like a sponsor.
If I were to advertise a site that sold widgets, I might do something like [html]Cheap widgets for sale[/html]
cscgal
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