Yes, it is a good way to restore some of your ball's hook by removing the lane oil the ball has soaked up.
One method is to use hot tap water, not so hot you cant put your hand in. Use a small bucket, just bigger than the ball. Put in a small amount of Dawn or any other grease cutting soap, start adding the hot water and place your ball in after the Dawn gets mixed up and before it gets over a quarter filled (the ball takes up a large amount of volume). Let the ball soak for about 10-15 minutes, remove and wipe off, repeat as necessary.
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