You can apply an embossed effect to text with the opacity and drop shadow effects.Follow the steps below:

  1. Type your text and color it white.

  2. Set the opacity of the text to 0% in the Measurements palette.

  3. Click the Drop Shadow icon.

  4. Check Apply Drop Shadow.

  5. Uncheck Inherit Opacity.

  6. Check Item Knocks Out Drop Shadow.