The fighting fish Betta splendens is a freshwater species from Thailand and other Southeast Asian countries. This fish has been domesticated for 1000 years and bred for fighting, various colours, body size and fin types for 600 years. It is one of the most important fish species cultured for the world ornamental fish market. This fish is easy to culture, highly fecund and displays great morphological diversity. Its biology has been studied for over 100 years. Recently, its compact genome and transcriptomes have been sequenced. Genome editing with CRISPR/cas9 has been applied to knock out genes in this fish. Its diverse phenotypes, including colours, colour patterns, fin types, and aggressive behaviour, are complementary to those of other model animals.Therefore, this fish could be the next important model organism for studying phenotypic variation and aggressive behaviour. In this paper, we synthesized knowledge about its aquaculture, biology, genetics, genomic tools, phenotypes and novel insights on phenotypic variation, sex determination and aggression. We hope that the information described in this paper will facilitate genetic studies on phenotypic variations in aquaculture and aggressive behaviour in other species, including humans.