A container for storing and preserving fishing bait. The container is specially designed for live bait, especially water-based bait. The container and certain embodiments can be worn along the waist of a fisherman. In the number of embodiments the container stores an aerator to supply oxygen to the water and preserve the water-based bait contained within. The container frequently includes a cover unit allowing a fisherman to insert his or her hand into the container to withdraw a bait while keeping the remaining bait inside of the container.