This depends on how she's urinating on herself. When some females mature and especially if stressed in their environments, they may start lifting their legs to urinate like males to mark their territories. Because their anatomy is different, this may cause them to urinate on themselves. Dogs who are stressed enough to do this may drink more water to enable them to do this.
More commonly, spayed females may lose the ability to hold their urine as they get old (as may castrated males). In this case, the urine often will leak out of them while they're sleeping. Normally this doesn't affect water intake.
If she's urinating and drinking more, she also could have one of several other condtions, such as adrenal problems or diabetes, that are causing the problem.
The only way to be sure what is causing the problem is to have her examined by your veterinarian.
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