Although the service formerly known as March Madness On Demand is now March Madness Live and costs $3.99, there are still ways to watch the 2012 NCAA tournament online. In fact, you can watch online legally for free. Here's how.
While March Madness Live costs money to use, each TV network broadcasting games is streaming them online for no cost. For example, if you want to watch a game that is on CBS, you can go to CBS Sports' website and watch it. For the other networks, all you need to do is log in with your TV provider information. Once it's authenticated, you will be able to watch the games online. Here are the relevant sites: TBS, TNT and truTV.
If you'd rather use March Madness Live but don't want to pay the $3.99, Coke Zero is offering a promotion where it will send you a free promo code if you text a number. Go here for more information on that.