Abstract: A bait bucket having inner and outer buckets with a mating frustoconical shape, or two chamber configuration with void between the two buckets or chambers, a self priming pump disposed in the void between the two buckets operably connected to a power source, the pump connected to a water source for pumping water into the inner bucket, a venturi hose with variable valve connected to the hose for drawing air for aerating the water before entry into the inner bucket, and an adjustable outlet drain in the inner bucket operably connected to a drain pipe that upon the water reaching a pre-determined height exits the inner bucket or chamber through an outlet port. The bait bucket may have external power and LED lights in the inner bucket and draw water through a filter and have external rod holder and a removable lid.