Michael Phelps Olympics 2012: Where to Watch Online Live Stream (2.49PM Next Scheduled Race)

Michael Phelps will be looking to first equal and then beat the world record for most Olympic medals won by any Olympian in history today as he takes part in two finals at the London Olympics 2012 Tuesday. His races can be watched live on NBC or online through live streaming (link provided below).

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Phelps will be in action on Tuesday at 2.49 p.m. ET. ready to make Olympic history. If he can manage to win medals of any kind in his two events on Tuesday he will enter the history books as the most decorated Olympian of all time.

He is in action in the 200 Meter Butterfly and the 4x200 Meter Free Relay, and he is a hot favorite to accomplish the landmark record today in these two events.

See MIchael Phelps in Full Action at the London Olympics 2012: PHOTO SLIDESHOW

Another American record is also up for grabs for Phelps today; if he can win gold in the Butterfly he will become the first male swimmer to win the same individual event in three straight Olympic Games. 

The Team USA swimmer already has set the world record for most gold medals out of any Olympian in Games history, but he now has his eyes set on overcoming gymnast Larisa Latynina's record of 18 career medals. 

The 200 Meter Butterfly is scheduled for Tuesday evening at 7.49 p.m. London time (2.49 p.m. ET), where any medal for Phelps will see himl equal Latynina's 18 career Olympic medals.

Later today he will also compete in the 4x200 Meter Free Relay.

Phelps finished fourth in his first event, the 400 Individual Medley, and only managed a silver in the 4x100 Free Relay.

Teammate Ryan Lochte has also had a difficult time in recent days. In the 4x100 Free Relay he was caught swimming anchor meaning he and his teammates missed out on the gold medal.

Following that he only finished fourth in the 200 Free. Lochte said, "I did my best. I guess sometimes you win, sometimes you lose. I gave it 110 percent. There's probably some things I messed up on, but you live and learn."

Phelps' next scheduled event will be at 2.49 p.m. ET and can be watched live on NBC, or fans can watch online through live streaming on NBC Olympics by clicking HERE.