Water Hazard: Any sea, lake, pond, river or other body of water on the golf course. A regular water hazard, as opposed to a lateral water hazard, is marked with yellow stakes or lines. A water hazard does not have to contain water; for instance, a dried-up pond or creek bed may still be considered a hazard. The golfer may play from a water hazard if possible; otherwise, he must take a drop and incur a penalty stroke.