I raced those boats a lot in college. If you flipped the boat it didn't get a lot if water in it unless you tried to ride it in on the mast. When you flip it back up a lot of water would come out leaving only a couple inches in the boat.
We set them up for quick bailing by drilling a hole in the back slightly smaller than a tennis ball. We then took a tennis ball and attached a bungy cord through it and tied it to the hiking straps so it just stayed in the hole. When the boat is full of water and you are up to speed you can pull the tennis ball to make it stick open and drain the boat. Not that complicated. With that and a gallon OJ container with the bottom cut off you can bail a boat quick. This method doesn't work so well if you don't keep the plugs in the built in flotation and they fill up with water.