I find once you use the eel and put it back in the bucket...it generally dies. Sometimes it lives but generally they die.
I have had about 3 doz in my bucket submerged in a salt pond (about 5-6' deep) all summer, I think I lost 3 or 4 all summer. (that is my emergency back up bucket)
I think you are going to have some die no matter what. I think some of the eels actually eat the weak ones. Its an ugly world down in the mud. THe bucket system is not perfect but it keeps most of them alive esp if you do not use them. Also if you take them out of the water all night and stress them out, it is likely one or two may die.
What I do is only take out what I need. I don't take 2 doz with me for a 2-3 hour surf trip I only take 6 and leave the rest in the bucket. I loose far fewer that way.
Most guys I know use the bucke with holes to hold their eels. I think the reason I like it is that you don't have a lot of $ tied up in it...just a $4 bucket. You can build a high end live well but you are into big bucks an a lot of maintence.
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