The city of Geraldton in Western Australia will once again fly the Gold Coast City flag.

Mayor Ron Clarke and the Mayor of Geraldton Ian Carpenter, set up a friendly wager for the Clipper Round the World Yacht Race, with the winning city's flag to be hoisted at their chambers.

Luckily, it was the Gold Coast Australia team who defeated the Geraldton Western Australia team and the rest of the fleet to finish first in race 7 from Southport to Singapore.

"Unfortunately for Mayor Carpenter, our flag will again grace the fair skies of Geraldton," said Mayor Ron Clarke.

“At this rate, we will have to extend honorary Gold Coast citizenship to the good people of Geraldton. But with another race to come, I know Geraldton will be pushing us all the way.”

Geraldton Mayor Ian Carpenter said the race was not over yet.

“We may have been beaten by the Duckworth Lewis of yachting, but we gave Gold Coast Australia a run for its money this time,” said Mayor Carpenter.

“We look forward to congratulating the Geraldton Western Australia crew in Qingdao when they win the next leg!”