This host i found has no limits on space and bandwidth.
PHP,mySQL,FTP,cPanel
AND NO ADS!
www.igotfree.com

Hey Dude, I got this really nice bridge for sale.

You can get rich charging people to cross it.

Even if this was true, why would you risk it?

This sort of "deal" is almost always based on a false business model that most people are never going to use even a fraction of the resources. The sad part is, once they start exceeding conventional norms - everybody suffers.

However you look at it, it seems like a pretty bad bet.

It's not about that, it's about the fact that free hosts don't really afford to buy unmetered bandwidth. That is pretty expensive (about 10$/Mbps minimum). If they could afford that it wouldn't be much of a problem, but when you have a server with a 2 tb limit (example) you can't really sell that.