NBC’s live Olympics webcast is available at no cost – provided that you have a valid cable subscription. Unlike ESPN’s online streams of the NBA Playoffs, NBCOlympics.com video will be available to all cable and satellite subscribers regardless of carrier. As long as your cable package includes CNBC and MSNBC, you have met the minimum criteria to watch Olympics live online.

The streams are free and completely legal, but you will be asked to verify your cable account first. This entails more than just a quick click – you’ll need to produce your account number, then create a username and password for this account, then log in with your new account (that’s the account you just created). It’s a new concept called TV Everywhere, and this is how cable networks and movie channels will stream movies and premium video online without allowing access to non-subscribers.

Viewers without a cable subscription can watch the Olympics live stream online free. NBCOlympics.com, for example, will stream a few live Olympic events that will not be behind the subscription verification firewall, but these are unlikely to be the more popular Olympic events. If you want to stream the debut of Women’s Olympic Boxing on July 28th, or Paul McCartney performing at the Olympics opening ceremony on July 27th plan on having proof of that active cable or satellite TV subscription.