So to make sure you don't miss anything important, here are the top 5 must-see events to mark in your Olympic viewing calendar.
Women's Cycling Sprint, August 7
In the build-up to the games, plenty in the media have been billing the 2012 Olympics as a showdown between us and Great Britain. After years of lording it over our colonial masters on the medal table, the Poms gave us a bit of a pasting in Beijing and look like they might do the same at their home Olympics.
But if there's one single event that encapsulates the Australia-Great Britain rivalry, it's the women's cycling sprint. Australian Anna Meares and Brit Victoria Pendleton - two fierce rivals who do not like each other - will be the favourites to battle it out for gold. Should make for some very interesting racing.
Men's 100m Final, August 5 Is there any other sporting event that attracts so many viewers, yet is over in such a short amount of time? The men's 100m final is an obvious event to include on this list, but for sheer entertainment value there's nothing better.
Watching Usain Bolt coast to the line - and still manage to smash the world record - in Beijing was one of the most iconic sporting moments of all time. You'd have to be brave to bet against him winning again in London, though he has suffered a couple of defeats to countryman Yohan Blake in the lead-up to the games.
Men's 100m Freestyle Final, August 1 When James Magnussen took out the 100m freestyle crown at the Australian Olympic Trials in March, his impressive time made the rest of the world take notice. Heading into London, Magnussen is clearly the fastest man in the world with another Aussie, James Roberts, not that far behind.
Magnussen is probably our best gold medal chance for London, and there's something about his tough, confident approach that makes him easy to like. There's plenty of events in the pool where we probably won't do so well in London, but this is one an Australian athlete should win.
Women's 100m Hurdles Final, August 7 Australia doesn't have a whole lot of stars in the track and field events, but Sally Pearson is a genuine world-beater. The current world champion, Pearson has been almost untouchable over the past year or so.
The Queenslander has been on the podium at the Olympics before - who could forget her joyous celebration after surprisingly claiming a silver medal at Beijing 2008? If she can take home the gold in London, her post-race celebration will be something to see.
Men's Tennis Final, August 5
Tennis's inclusion in the Olympics always seemed like a bit of a strange one to me - the four major championships are still the events the players see as the most important.
But with this year's matches taking place on the hallowed turf at Wimbledon, it gives the occasion a different feel. Federer, Djokovic, Nadal and home favourite Murray will all fight it out for gold. Should be fun.