Abstract: A bait saver bucket with a multi-chambered container having separations for segregating different sizes of live bait as well as providing slots for segregating fishing lines having bait and hook attached thereto, especially while relocating equipment from one location to another. The multi-chambered container is comprised of an outer container for holding an amount of fluid therein and having a closure and a handle and having an inner floating container comprising removable basket-like compartments oppositely opposed and spaced apart by a cover member having apertures substantially conforming to the top openings of the basket-like compartments and having a centrally disposed aperture having a hingedly attached cover for covering the aperture and when opened providing access to the interior of the remainder of the outside bucket enclosure not occupied by the compartments. The cover has slots for allowing leaders to pass through the cover without being crimped.