A reel for fishing line or the like provides for extremely rapid payout by releasing the line to unwind by sliding rapidly around a guide surrounding the line spool and by rotation of the line spool itself. A lever controls a line guide preventing sliding of the fishing line around the guide and providing controllable friction and locking of rotation of the line spool only when actuated by the user to permit retraction of the line or controlled tensioning of the line.

A fishing reel with a deco trim and a drain includes: a frame; a shaft mounted on the frame; a spool fitted on the shaft to wind a fishing line; a first side cover disposed on a side of the frame; and a second side cover disposed on the opposite side to the first side cover, coupled to the frame, and capable of opening to separate the spool. The fishing reel further includes a mounting portion formed at one or both of the first side and second side covers, a deco trim coupled to the mounting portion, and a drain formed on the first side cover, the second side cover, the deco trim, or the frame to discharge water between the deco trim and the first side cover or the second side cover.