I've never done it personally but has anyone ever pulled a crank on a bottom-bouncer? It would seem this would be easier than using a 3-way swivel.
Its a pretty short 3 way on the dropper end. But it could work.
Of all the BS I type this is good info........ 18" dropper 40" leader on 3-Way......... I was told by a 3 way LEGEND that is the magic numbers...
Havn't seen many bottom bouncers that were 18" tall
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About using Rubber bands instead of the OR-16 snaps,
A super cheap Red Green way to run them is to tie a rubber band to the weight and ( Larks head ) the rubber band to your line where you want the weight to hang.
If it slips you can go around your line twice and make a Prusik knot... It won't slip.
When you catch a fish and are reeling in just grab the main line and weight and break the rubber band.