A fishing reel with dual spool spin axes includes a housing, a rotor assembly rotatably mounted on the housing, and a spool shroud assembly including a fishing line spool gimbal mounted on the rotor assembly. The shroud assembly is movable between a casting position with a spool axis parallel to a rod axis and a retrieve position with the spool axis perpendicular to the rod axis. The spool is geared to the housing in such a manner that rotation of the rotor assembly about a rotor axis to retrieve the line causes the spool to spin about the rotor axis and simultaneously about a spool axis to counteract twist in the line caused by the manner of casting the line or by line pay-out by a hooked fish.
