Somewhere in the depths ofLake Macquarie, there is a $25,000 flathead just waiting to be caught.
It's one of four fish, each a different species, that have been tagged for the $100,000 Let's Fish Lake Mac event weekend, which will be held on November 23 and 24.
One healthy tagged specimen from each of the competition's four target species - flathead, bream, tailor and whiting - will be released into the lake shortly before the event begins, with participants challenged to catch one and claim its $25,000 bounty.
Organiser Michael Guest said fishing tackle prize packs worth more than $34,000 were on offer as usual this year, but the tagged fish would add even more incentive to sign up and wet a line.
"We've seen how this kind of fish lottery has helped attract anglers to competitions in other parts of Australia, but this is the first time it has been offered locally," he said.
"It's a really fun way to encourage people to get involved, and there's a substantial reward on offer for anyone lucky enough to hook one of the four tagged fish."
Prizes will be on offer across junior and open categories for the largest specimen of each of the four target species caught during the weekend, along with 'mystery length' prizes and other prize packs on offer for simply entering.
Fish are photographed on a measuring mat supplied to all participants, before being released back into the lake.
Lake Macquarie City Council cultural engagement coordinator Marsha Rodrom said local businesses were set to reel in the benefits of the event weekend.
"Past Let's Fish weekends have seen hundreds of fishing fans descend on the lake and our beaches in search of the target species," she said.
"Many are from outside the area, and we consistently see a significant boost in demand for accommodation and from other hospitality venues around the lake as a result."
"This event showcases the spectacular lake at our city's heart and encourages people to get outdoors and enjoy one of Australia's most popular pastimes.
Entry to this year's contest is $30. Go to letsfishlakemac.com.au for more information and online registrations.