Gimmick
A cheaper alternative and by far and away the most popular with serious anglers are glow beads, -blades or -spoons. Used in low light conditions like tannin-stained water or high turbidity.
The concept is to appear as the flash of a white belly on a baitfish, pre-programmed as a potential food source for your prey. Red light in particular is useless after a defined depth because a fishes eye cannot see it. Hence the so-called blood hooks. The concept there is that the hook is invisible due to the length of the color wave on the spectrum.
Also available, and just as useless, are the tiny glow-sticks that attach to your still-line with rubber clips and (apparently) make a green spot near the worm.
A tackle maker has one purpose in mind. To lie to you and sell you all the crap they can and tell you that you too can get your name in the record books if you'll just buy this trinket. And that one and that one and ...
Scent and motion are the key factors. But I may have stepped into a conversation that was about angling for squid at 20,000 leagues. In that case, forgive me and ignore this advice.
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