BTW Nick, I understand how timezones work and that most of the NBC cable networks are showing events all day. However, they are not showing the more popular events (swimming, gymnastics, etc) live.
Yes, you understand timezones, but not television programming. NBC appears to be saving the events with the higher level of interest for prime time when they can reach the maximum number of viewers. And that has to do with the finances of them buying the broadcast rights for the Olympics. They HAVE to show some of it tape delayed and in prime time in order to collect those ad dollars that help finance an incredibly expensive broadcast operation like the Olympics.
Right now, there are at least 4 networks with coverage airing RIGHT NOW. Do you think if NBC was airing a swimming event that anyone would be watching Water Polo, Boxing, Fencing or Tennis which are all on right now? Probably not. In fact, it would probably hurt the ratings of those other events.
Is the internet going to spoil some of those results for some? Absolutely. But not for everyone. And that's probably because the casual viewers aren't so wrapped up in the games that they're going online to find out the results. It's a very calculated risk.