LIVE COVERAGE: Masters 2012; Watch Online Stream Of First Day’s Play At Augusta National

The 2012 Masters is underway and live streaming coverage is available online. The official tournament website, Masters.com, has feeds from several of the holes, including Amen Corner, and will also be following the high-profile pairings around the course, including the group containing Tiger Woods.

And, from 3 p.m. ET, you can watch a live stream of ESPN's coverage via ESPN3.

Already on the course is pre-tournament favorite Tiger Woods. The former world No. 1 has been heavily-tipped to claim his fifth Green Jacket after winning the Arnold Palmer Invitational at Bay Hill two weeks ago.

Woods is playing alongside cool Spaniard Migel Angel Jiminez and South Korean Sang-Moon Bae.

The other heavily-fancied player before play began was young Northern-Irish sensation Rory Mcllroy. And the 22-year-old has just teed-off as he begins his quest for a first Masters title.

After letting a four-shot lead slip in the final round a year ago, Mcllroy responded superbly to claim his first major title at the US Open just two months later. And he will be looking to completely exorcise any memories of his demoralizing 80 on Sunday in 2011 by getting himself a Green Jacket this time around.

Mcllroy is paired for the first two rounds with the 2009 Masters Champion Angel Cabrera, as well as American Bubba Watson.

The champion from last year, Charl Schwartzel is also on the course as he looks to upset the odds again and retain his title. The South African is grouped with young American hope and last year's PGA Championship winner Keegan Bradley and amateur Kelly Kraft.

Looking to get his hands on another Green Jacket is Phil Mickelson, who has won the tournament three times, the last of which being two years ago.

Mickelson is in the last pairing of the day, which has just gotten underway at the Augusta National Golf Club. Alongside him will be fellow American and world No. 4 Hunter Mahan, who is tipped by many to be in with a chance of contending for the title at Augusta National. Rounding off the group is Sweden's Peter Hanson.