A bag for conveniently holding fish in water safely and for weighing the fish during a fishing tournament. The bag comprises a polymeric material which is water tight but allows oxygen to pass into the bag and carbon dioxide to pass out of the bag. The bag is fold-able but when filled with water, the bag has no right angle corners where fish tend to congregate and crowd one another. An optional hoop is provided which integrates with the side wall of the bag and will force the shape of the bag to remain in a preferred more rounded configuration. One embodiment includes a sealable closure at the top to fixedly contain the water and fish.