Whats Wrong With My sportsman 500?

[Sportsman500Rider]

My 1999 Polaris Sportsman 500 revs up and the wheels no longer spin once i go in water over the floor boards. I was wondering is this the belt slipping from the water? When I get out of the water it takes a minute then it goes again.

 

[stealth500]

belt getting wet and slipping then the water runs out and it dries and goes again make sure the red drain plug in in and all the bolts are in the clutch cover