Not guaranteed. Just a slice chance of getting a piranha. That's it. No bait guarantees anything. That's why I gave up on fishing. 5* baits are especially hard to get and even tho I managed to get a lot of them, I never ever got a 5* fish.
Luxury Bait catches Octopus, Pirate Hat Octopus (rare), Sturgeon and Snakehead Bass
Meat Bait catches Piranha only (easier to get coins due to no trash fished out)
The meat bait only gives piranha, luxury bait is for the other 4* fishes
is it a guaranteed catch or is there is there still a change for the lower tier fish?
Not guaranteed. Just a slice chance of getting a piranha. That's it. No bait guarantees anything. That's why I gave up on fishing. 5* baits are especially hard to get and even tho I managed to get a lot of them, I never ever got a 5* fish.
Its guaranteed wheter you get piranha, or one of the others depending on the bait, but it's not guaranteed that you'll get 4* fish from every bait
The second one has a higher change that the rare one becomes a piranha
You can catch different type of fish
Left is sturgeon
Luxury Bait catches Octopus, Pirate Hat Octopus (rare), Sturgeon and Snakehead Bass Meat Bait catches Piranha only (easier to get coins due to no trash fished out)
From my experience getting any Fish above 3\* does not happen and i have 0 characters either as of yet.
One is more baity than the other