Dan, air pressure holds the basket in place because the length of the basket is longer than the relaxed inside diameter of the tube. I think I bought the basket at Walmart or K-Mart. I use a small bungee cord to hold the rods to the basket. I just tie the white string (about 4') to my belt.
If your combos are balanced like I do mine, the rod tip/s do not touch the water. I usually carry 3 combos which is a lot less than the 20 or so I carry when using my boat.
Notice the lure on the spinning rig, a weedless wacky rigged Trick worm. The baitcaster has a crankbait and the other rod would be for some other presentation (probably a spinnerbait).