when something you normally hate offers a free thing if you buy it, such as a toy, mini board game, blah blah blah. freebait literally translates into free and bait. free meaning free and bait meaning the free thing to draw you into buying crappy stuff.
little jimmy buys a box of generic-o's cereal for the free prize inside. his mom says he must eat the whole box. jimmy was freebaited
by johnney napalm January 24, 2008