The 84th Annual Academy Awards (or Oscars) will take place on Sunday, Feb. 26, and millions of people are wondering which movies, actors, actresses and directors will win the coveted golden statues on Oscars Sunday.

Yes, the biggest awards ceremony in Hollywood is about to kick off in a couple of hours and, in case, your ticket for the red carpet event got lost in the mail or your television has decided to sulk, don't contemplate jumping out of the window - because we'll tell you how you can watch Oscar 2012 online from the comfort of your home and laugh your guts out as host Billy Crystal attempts to entertain the crowd for the first time since 2004.

How and When to Watch Oscars 2012 Live Coverage Online

The 84th Oscar Red Carpet event will kick off on Sunday, Feb. 26 at the Hollywood & Highland Center at 7pm ET/4pm PT while the awards show will begin at 8.25pm ET/5.25 pm PT. The show will be aired live by ABC network, Oscars' longtime broadcaster.

The official Oscar Web site, a partnership between American Motion Pictures Academy and Science (AMPAS) and ABC, is also offering Oscars 2012 live stream - right from giving viewers unparalleled coverage of Hollywood's most glamorous and prestigious red carpet to unrivaled backstage access to the night's hottest post-Oscar A-list parties, including the prestigious Governors Ball, the Web site will cover everything live.

You can get the insider's view of Hollywood's biggest night with Oscar Backstage Pass. Available online as well as on iPhone and iPad, the Backstage Pass will give you exclusive access to the stars via over a dozen cameras placed strategically throughout the Red Carpet, the Hollywood & Highland Center and the Governors Ball. In fact, the Backstage Pass will let you go beyond the TV broadcast and it could be your dream come true as you'll be able to watch all the stars from over a dozen cameras placed strategically throughout the venue.

The best thing about the Backstage Pass is that you'll be able to choose which camera you want to look through and change it any time. A running ticker will, meanwhile, be updating you what's happening in front of the other cameras so you don't miss the favorite moments.

And, if you want to catch up with what's the latest Oscars buzz till now, click here.

You can also download the official Oscars App (available for iPad, iPod Touch and iPhone) here that will give you first person view of the Red Carpet and exclusive backstage access to Hollywood's biggest night.

Once downloaded, the app will make you a virtual member of The Academy and will let you stay in the loop by not only give complete access to nominee lists, trailers, buzz worthy videos, hosted specials on fashion and nominated films and actors, but also by letting you get up close and personal with the biggest Hollywood stars on the special night, through its dozen-plus live backstage and Red Carpet video streams.

You can also visit E! Entertainment and get live stream of Oscars 2012 Red Carpet. The video will stream live from 5.30 pm ET/ 2.30 pm PT. Ryan Seacrest and Giuliana Rancic will be your host during the three-hour Oscar marathon.

E! Live From the Red Carpet app can also be downloaded. It will give you live access to the fashion, the stars, the glitz, the glamour and all the winners and losers. The best thing about this app is that it's FREE.

And, if you don't have any iDevice, don't fret. Because the E! Live From the Red Carpet App can be played on Android as well as Windows smartphones.

You can also visit Livestream, which has a page dedicated to the event.

AP Live also has a livestream page that covers the Oscars event live and organizes the big event systematically with lots of useful data, links, news and more.

And, fashionistas can watch and learn what's in and what's out as their favorite stars strut on the Academy Awards red carpet via TVGuide.com's live Red Carpet Fashion Cam.

You can also visit ABC, whose Oscars-dedicated page not contains useful trivia related to the event but also videos and clips that lets you get up close and personal with the Oscar nominees this year. The site will be showing the event live.

And not to forget, there's Yahoo Movie page dedicated to Oscars and the YouTube Oscar Channel if you're looking for the latest uptick on exclusive interviews, outtakes and other clips that will keep you entertained for hours.

Other great Oscars online coverage bets are the entertainment news Web site OnTheRedCarpet.com, which promises a full interactive experience with live chats and other features, and Entertainment Weekly. In the past, UStream TV and Justin TV also covered Oscars, so you can check out these two sites too.

All these sites promises to deliver all the action that will be taking place tonight and are certain to get everything you love about the Academy Awards!

So grab some popcorn, invite your friends over, sit back and get ready to be taken for a ride of a lifetime. Enjoy!