I shot a pig around 10 AM from a tree stand. Its gut pile was about 40 yards from the stand. An hour and a half later, my buddy shot a pig from the same stand as a group came in to feed on the gut pile. That pig was gutted within 20 yards of the first one. About 3 in the afternoon, the 3rd guy in our party shot his pig from the same stand as a group once again came to feed on the gut pile. I have only been on 2 hog hunts and have been successful on both. From my very limited experience, it seems that gut piles can make some pretty good bait.
Make a hole