"We can still race in light rain or even medium rain," race co-chairman Jeff Carroll said Thursday.
"What would come into play that would affect the race would be... high wind, or lightning, anything like that."
Carroll expects around 50 racers to particpate this year, about double the amount of last year's race. He does not expect weather to influence racer turnout.
"There may be a few boats and local guys that may not come out due to weather, but most of the big boys that are coming in from national races will be here," he said.
Among those "big boys," the world champion Miss Geico Race Team.
"We do have some wind, and at the speeds we'll be going, we'll be racing at...170, 180 miles an hour...you're gonna get blown around a little bit so you do have to take that into consideration," Marc Granet, the driver of the Miss Geico Race Boat, said.
Granet says rain shouldn't impact the racers because they're under canopies, but it could influence overall safety.
"The safety crews have to see what's happening on the course, if there's an incident," Granet said.
"So if the rain gets too heavy...if there's a little bit of sprinkles I suspect we won't have any problems...but if the rain gets too heavy then they'll probably call the race and reschedule us for when it clears."
If the weather gets dangerous, race officials will call the race and postpone until the storm passes.
Bagnell Dam on Business 54 in Miller County will be closed Saturday and Sunday from 8 a.m. to 4 p.m. for the Lake Race.
One event scheduled to proceed rain or shine, the Lake Race Chopper Dropper on Monday. The proceeds from the event will go to Lake-area charities.