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Float w/ Lanyard is how all the charter boats do it back in Florida where EVERY boat has one of those darn expensive things. 

I have mine on a homemade phone cord leash.
I've seen them untethered but with nice fat floats, or attached to a PFD via a retractable lanyard.

I think your best answer will come from those that have lost theirs one way or another    For me, it's all about the cheap, floating, FishGrip: http://www.thefishgrip.net/

I use this on my boga.  Easy to detach if needed.  https://www.austinkayak.com/products/5043/Ackessories-Rod-Leash.html

I lost one imitation boga when I clipped onto a striper and accidentally let it go.  Never again...

Think there is pro/con to leash vs. float.  Either way, it's safer than neither.

I have mine on a homemade phone cord leash.

This 

I leash mine now since I lost an imitation Boga with a floaty to a big ling at TC. I still use an imitation Boga.

 I wonder if that ling still has it on its lip? 

Opps!  Did that 20 lbs plus fish take my boga and float.     Why not use booth?   

http://www.fishingheadquarters.net/bofiscfl.html

gonna leash mine the next time i get one (lucid fell out of my vest at albion).  for now, it's cheapy plastic grips

Ive never lost one....but mine just sits on the shelf

Small crab rope float on lanyard...I don't like leashes everywhere. They always end up tangled.  Hate to lose it to a big ol ling but that's a good problem to have I guess!

I leash it on the yak, if I used it on shore, float

Just don't drop it.

I've had my boga for like 7 years now. No float or leash. I boga it to something on my kayak when not in use.

Just don't drop it.

I've had my boga for like 7 years now. No float or leash. I boga it to something on my kayak when not in use.

+1 - Mine is a an econo version. I clip it on to my seat snap. So far, so good, been considering a leash...