A bobber having an internal light for illuminating bait suspended in the water below the bobber is provided. The bobber has a wide upper portion and a lower portion in the shape of an inverted cone pointed downward into the water when the bobber is floating. The internal light is positioned in the lowest part of the bobber when the bobber is in an upright vertical position. The bobber is very stable in the water and effectively and consistently focuses the light directly on the bait. Thus, the bobber is particularly effective in attracting fish to the bait.