Using epiperimetric inequalities approach, we study the obstacle problem \(\min \{(-\Delta )^su,u-\varphi \}=0,\) for the fractional Laplacian \((-\Delta )^s\) with obstacle \(\varphi \in C^{k,\gamma }(\mathbb {R}^n)\) , \(k\ge 2\) and \(\gamma \in (0,1)\) . We prove an epiperimetric inequality for the Weiss’ energy \(W_{1+s}\) and a logarithmic epiperimetric inequality for the Weiss’ energy \(W_{2m}\) . Moreover, we also prove two epiperimetric inequalities for negative energies \(W_{1+s}\) and \(W_{2m}\) . By these epiperimetric inequalities, we deduce a frequency gap and a characterization of the blow-ups for the frequencies \(\lambda =1+s\) and \(\lambda =2m\) . Finally, we give an alternative proof of the regularity of the points on the free boundary with frequency \(1+s\) and we describe the structure of the points on the free boundary with frequency 2m, with \(m\in \mathbb {N}\) and \(2\,m\le k.\)