Abstract: A spincast fishing reel has a reel frame to which front and rear covers are attached. The rear cover includes a pivotable thumb button which is depressed by a user when fishing line is to be cast. The front cover closes the face of the reel, but defines a forward opening through which the fishing line extends. A normally nonrotatable line spool is located inside of the front cover on a spool hub of the reel frame. Fishing line is wound onto the line spool by a rotatable pickup head located forward of the line spool. An improved drag arrangement includes a gear nut mounted on a threaded portion of the spool hub. A gear train arrangement is provided to operatively connect a suitable thumb wheel with the gear nut. Rotation of the thumb wheel by a user causes rotation of the gear nut, which varies the drag force imposed on the line spool.