Yes, it works. You don't fill the bucket all the way; just halfway. You put something so the rat cat climb in thebucket but can't climb out. Eventually the rat will tire itself out and either die of exhaustion or drown.
Problem with the above method is it takes a very long time. The animal can be in there for a few hours or a day plus before it dies. Which is where the .22 or BB gun comes in. Wait till it gets tired enough that it's pausing to take it's breath and rest then shoot it. It's more humane than a glue trap.