Can you watch motor sport live tv on the internet?

Yes, you can, but I don't know how often. The Canadian Fastest Street Car Shootout (Drag Racing) was completely covered live, incl. the rock concert portion of it, in 2006 on the web in many countries throughout the world, via "My Way Network" (.com) I think they were called. I think they do cover a number of motorsports events (probably mostly Drag Racing) & concerts etc. live on the internet, but really don't know a whole lot about them. I was there myself, so I wasn't viewing it on the web.

Download TVU player at this site and you can watch the A1 races on Star Sports. However, it's still at the Beta stage and the stations do come and go - Star Sports wasn't available last weekend for the A1 race in New Zealand, but it's now back among the station they carry.. http://www.tvunetworks.com/ I'm not aware of the availability of and other racing series via the Internet, certainly Formula One isn't available, but, in the UK you get that live on ITV.