Ok.
Modify it so that if a fish takes the bait, the drag mechanism is set so light as to not be noticeable to the fish, and pays out line without freespooling. That means, the bait doesn't freefall to the bottom, or pull down on the fishs' mouth.
Next, the fish should be allowed to swim away for a bit, to allow it to have the bait well in it's mouth, b4 the tip up sets the hook.
If you can accomplish this, you might have something there.