We prove reversed Hardy-Littlewood-Sobolev inequalities by carefully studying the natural associated free energies with direct methods of calculus of variations. Tightness is obtained by a dyadic argument, which quantifies the relative strength of the entropy functional versus the interaction energy. The existence of optimizers is shown in the class of $prob$. With respect to their regularity, we study conditions for optimizers to be bounded functions. In a related model, we show the condensation phenomena, which suggests that optimizers are not in general regular.