A paddleball toy having a paddle, a bounceable play ball, and an elastic tethering means. The paddle has an impact surface and an elongate handle with a handle longitudinal axis. The paddle has a front side and a back side. The handle connects to the impact surface at a lower end of the impact surface. The impact surface has a direction-switch slot extending from a slot bottom at an interior point of the impact surface to an exterior edge of the impact surface. The elastic tethering means tethers the play ball at a first end of the tethering means to a tether spot on the impact surface adjacent the slot bottom of the direction-switch slot so as to permit the tethering means to pass through the direction-switch slot as the play ball passes the impact surface from front side to back side, or back side to front side.