When your not in a relationship and your available, e.g. the dating game and your waiting to catch a 'fish'. If one has been unlucky in love you could say that he/she should maybe get better or more 'bait'. Created during a Go Fish game.
"Are you fishing?"
"I was, but I found Dana."
"So, how's it going with Dana?"
"We broke up."
"Oh, I guess you need better bate."