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Anywhere you can fish.
So you would rather not get help at all?
Okay thanks
According to the wiki, all that Bait does is decrease the waiting time for a hit, as well as reducing the chance of trash items. Wild Bait decreases the wait time slightly further than that.
You could say it increases the odds of finding rarer fish in a day, since you'll be catching more fish/junk in a day, but that's just a technicality.
The wiki also said I should've had enough points at the start of year 3 to get all four candles lit but I only had three. I've never bothered trying wild bait because it's prohibitively expensive, so I can't confirm whether the Wiki is accurate or not, but it's worth a shot if you're having trouble, worst case scenario you waste some easy to replace materials.
Try going on a lucky day as well, just to hedge your bets.