A jet pump system for a water jet propelled boat is disclosed that provides for the adjustment of the area of the water intake opening or the water entry angle as a function of the speed of the boat. During low speed operation, the water inlet opening is adjusted to a maximum area, or the water entry angle is adjusted to a maximum angle to enable sufficient water to enter the water duct and permit efficient impeller operation. As the boat speed increases beyond a predetermined speed, the water inlet area is reduced, or the water inlet angle is reduced to prevent excess water from entering the water duct, thereby reducing the drag on the boat.