The Flash game, available at www.bbc.co.uk/americascup, is called 'Captain Chaos' and has been developed jointly by the BBC and Victoria Real. Players race a computer-controlled boat around a fixed course that features whales, squid, sharks and rogue submarines.
The game will run in conjunction with live news coverage of the race and various guides to sailing jargon and boat terms on the America's Cup site (www.bbc.co.uk/sailing).
Newsnight presenter Peter Snow will help cover the event on the web site, which will also feature an America's Cup Flash-based guide from champion sailor Ellen MacArthur.
Ben Gallop, head of BBC Sport Online, said: "Sailing is a particularly specialised sport with an abundance of terminology. The aim of the game was to demystify some of this and bring sailing to a wider audience."
At 151 years old,the America's Cup is the world's oldest yacht race.
This year, the event takes place in New Zealand and will finish next March.
Jason George, creative director at Victoria Real, said: "We are targeting a broad audience of sport enthusiasts, from kids to those who may know little about sailing. The main aim of the game is for it to be fun and amusing."