Google does index raw text links
Google and Bing will index a plain link as raw text just as it does with everything else. The page will however will need to be unique and offer something, otherwise Google may choose not to index everything on the page. It will however not pass juice as you would hope.
Google does use raw text links to discover new pages and new domains
Crawlers as long as I can remember have been using raw text links to discover new pages and domains, this is because sometimes sites use plain text to post content, newly registered domains will often be published in the thousands in raw text etc. John Mueller confirmed this a few years back:
SOURCE
We use those kinds of links to try to discover new content. So for instance if we see that someone has been writing about a new domain
name and we can recognize that as a domain name in the text even
without a normal HTML link there, then that is something where we will
try to pick that domain name up, try to crawl it and index it and see
if that is something worth including in our search results.
Sometimes it happens that we pick up a whole URL like that. Sometimes someone will try to shorter a URL with just a ‘…’ in between
and we try to crawl that URL so we get it wrong. But our goal here
isn’t necessarily to pass any pagerank, which we don’t do with those
kinds of links. But rather discover new URLs that we haven’t seen
before. And if we see someone write about a URL that we haven’t seen
before we will pick that up and try to index that for search.
Standard link types:
<a href="http://www.example.com">http://www.example.com</a>
-
- Adds to domain authority and passes juice
<a href="http://www.example.com">www.example.com</a>
- Adds to domain authority and passes juice
<a href="http://www.example.com">Keyword</a>
- Adds to domain authority, passes juice and some weight on keywords
<a href="http://www.example.com"><img src="http://www.example.com/eg.jpg"></a>
- Adds to domain authority, passes juice and weight on alt if present
<p>www.example.com</p>
- May pass some citation value
<img src="http://www.example.com/eg.jpg" alt="example">
- May add to domain authority and link diversity
Standard types with nofollow:
<a href="http://www.example.com" rel="nofollow">http://www.example.com</a>
<a href="http://www.example.com" rel="nofollow">www.example.com</a>
<a href="http://www.example.com" rel="nofollow">Keyword</a>
All links are subject to Google and Bings algorithms meaning that not all links are equal.
http://example.com
(pure text) and not<a href="http://example.com">http://example.com</a>