We used to have a "low key" regatta at a local lake for 35 years. Two races (about 1 hour) around the 3 bouys on the lake. In between the races we used to go back to the beach and eat & drink, talk. Sorry to say that the lack of liability insurance left the guy's running it open to major issues if a problem were to happen. The regatta no longer happens.
Now days it is tough to get a few friends together to sail due to schedules and family.