The number of chances you have to catch a fish is based on the distance you cast the line from the shore, not how long you let it float. The advantage of actively reeling it in is that you will get it back faster which means you can cast again faster. So basically if you just want to relax and let it slowly float back to you, you aren’t missing out on any “value” of the lure, but if you are in a hurry then actively reeling will get you your fish more quickly.