Troubleshooting this depends on how much actual water goes 'straight to the pan'.
If a head gasket is leaking, or the riser is leaking back, that water will fill a cylinder and it should to leak into the pan fairly slow, if at all (depends on the condition of your rings).
If you're talking a lot of water, unfortunately that's indicative of a cracked water jacket. If you don't have an external oil cooler, then about the only other way water can get into the pan is the same way the oil does...
2 possible reasons for a water jacket leak would be from freezing, or a cracked/broken cylinder wall (which can result from a variety of reasons)...
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. . . . . . . 1988 Skipperliner Custom 53x14 . . . . . . . . . .2007 Bayliner 175BR . . . .