PokéBase - Pokémon Q&A
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It's because he knows they'll evolve into Gyarados, and soon everyone will be grovelling at his feet for mercy.

Just kidding.
It's Game Freak's decision, maybe it's as a joke, maybe it's to give the player some free experience or to show them the uselessness of Magikarp. It's what's known as a 'running gag'

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I wish the first part was the answer.
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Because Gamefreak likes to use that joke. There is a Japanese stigma about fishermen. It is a cultural gag.

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