A surfboard leash system for a surfboard and a method of making it are disclosed. The system may include an insert or receptacle adapted to be disposed within a portion of the surfboard, a reel assembly releasably connected to the insert and having an arm portion terminating in an annular flange, a first elongated line having a first end attached to the reel assembly and a second end capable of being extended from and retracted to the annular flange of the reel assembly, and a second elongated line releasably connectable at a first end to the second end of the first elongated line and adapted to be releasably attached at a second end to a user of the surfboard.