c. 1600, "furnished with bait," past-participle adjective from bait (v.2). Hence, in a figurative sense, "exciting, alluring" (1650s). For bated breath see bate (v.1).
Entries linking to baited
bait v.2
"to put food on a fishing line or in a trap," c. 1400, probably from bait (n.). From 1590s as "to lure by bait." Related: Baited; baiting.
bate v.1
c. 1300, "to alleviate, allay;" mid-14c., "suppress, do away with;" late 14c., "to reduce; to cease," a shortening of abate (q.v.). Now only in phrase bated breath (subdued or shortened breathing, from fear, passion, awe, etc.), which was used by Shakespeare in "The Merchant of Venice" (1596).