I have had some bad days with the jig hookup ratio… However I have had some great days too. I have seen crankbaits do more damage to those fish then running live bait. Just dont feed them line.
For jigs… A VMC mooneye jig in 1/4 oz runs a 3/0 hook. Otherwise I mold my own and use 4/0 jig hooks. When the fish hits I let them take it till I know the fish is moving away and let him have it. So do not feed any line. When the line goes tight you hit him. They do this pretty quick most the time.
When I rig them with a 3 way I run a 1/0-2/0 hook. Offset hooks. Same deal. Do not feed them. Just let them pull the line tight and set the hook.
Little fish will get away but you usually know when its a big fish and can take them pretty quick. No counting to 5 or ten. Thats silly. Just make sure they are moving away from you and your hookup ratio will be good.