free drop (different)

If the boundary of the hazard is the outside surface of the stake (it is), and the ball is touching the stake, it is in the hazard. Page 43, definitions.

Rule 24-2, If a ball is in a water hazard, the player may not take relief from an imovable obstruction. Play it as it lies, or take relief under 26-1.

No free drop.

Spot on Murph!!!
 
A ball is in a water hazard when it lies in, or any part of it touches the water hazard. p43, definitions.

If the stakes define the boundary, the stake is in the hazard, and its outside edge defines the boundary. If a line defines it, the line is the boundary. If stakes and line, the line is the boundary, and the stakes are inside the hazard.

If your ball touches the stake, you are in the hazard.

If (as for many courses) there are only stakes, where is the boundary in the area between the stakes?

I think you have to draw an imaginary line between them and do a spot of lining up with the shaft of a club or something.
 
It's one of those where you have to look at the ball very carefully. If ball is actually touching the post, then murph is right & no free drop. But if ball is just very, very, very close but not actually touching, then post is a moveable/immovable obstruction as appropriate.
 
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