The huge hook is one of the most useful lures in the game, the huge hook allows you to catch most huge fish, all listed here -> Moga, Shark, The Maw, and the Tiger Shark. It will prevent you from being able to catch the Cave Shark. The huge hook costs $5,000 and you unlock it by having the shark steal your bait for the first time.
The lightbulb is also really useful, it emits a source of light that lasts 3 mins (Duration can be affected by the dark boat, and the battery hat). A feature that everyone should be aware of is that the Moga is TERRIFIED of the light! The lightbulb costs $1,000 and you unlock it by catching a Bulbfish.
There is a trick where you can equip the battery hat, buy a bulb and switch to any other hat. The bulb will now stay for 30 minutes and you don't have to buy another one every 3 minutes
The mega hook is a hook that allows you to catch large fish with ANY bait, allows you to do the same stuff as with the huge hook, but it's also the only hook that can allow you to catch the Abyssal.
The mega hook costs $50,000 and you unlock it by reaching level 40.
The rocket is a lure that improves your cast distance for one time. It is useful if you lack a boat.
The rocket costs $400, and you unlock it with the lure shop at level 5. The cost is decreased from $400 to $100 with the cowboy hat.
The bomb is a lure that scares any fish who touch it away for one time. Bombs can be stacked with the bomb stack upgrade up to 5. The blast power can be increased with the demolition hat. The bomb can also be used to catch bombats.
It costs $200, but can be decreased to $20 with the demolition hat.