The frame of a large heavy duty ratchet supports a spool about an axis of rotation. A handle, pivotable about the axis of rotation, includes protrusions engageable with toothed wheels on opposed sides of the spool to urge incremental rotation of the spool upon repetitive pivotal movement of the handle. A pair of spring-loaded pawls engage the toothed wheels to limit the direction of rotation of the toothed wheels. A cam, formed as part of the handle, disengages the pair of pawls from the toothed wheels upon pivotal movement of the handle to a certain extent to permit rotation of the spool in either direction.