i watch most of anime online now. but i'm only going to recommend legal, commercial ways (you have to either watch commercials and/or pay a monthly fee).
Crunchyroll - has the most simulcasts (subs that come out the at about the same time that the episode originally airs in japan). it has a huge maktaba of older anime too. they're almost all subtitled though. wewe can watch it for free with commercials, au subscribe to it (which i do). wewe can also watch Crunchyroll on devices like a PS3, XBox360, and several smart phones.
link Funimation - the official site for the anime dvd dubbing company. when they get a new license to a series, they often time release the subtitled version of the series for free with commercials (sometime this is simulcasted). they also often let wewe watch the first several episodes of many of their dvd series dubbed. if wewe subscribe to them, a large quantity of their dvd maktaba becomes available to watch (i don't subscribe).
link Hulu - they have a large maktaba of anime dubs (subs if a dub isn't availabe). wewe can watch many of their shows for free with commercials in it. if wewe subscribe to Hulu Plus, there's zaidi episodes that wewe can watch, plus wewe can watch it on devices like a PS3.
link Viz anime - the dvd dubbing company's official site. wewe can watch many of their shows on their site (powered kwa Hulu).
link YouTube - they have a ton of anime series often dubbed that wewe can watch with commercials. i'm not sure if they can be watched on devices like a PS3 au smart phone.
link Nico Nico Douga - a Japanese youtube-like company. they have an English version and host several simulcasts. i'm not sure how to get to the current page that has full anime episodes au simulcasts though (it's tought to navigate)
link Netflix - only available with a subscription fee, but lots of families subscribe to Netflix, so there's a good chance wewe might be able to watch it. they have a good assortment of anime dub series. wewe can also watch it on a PS3, XBox360, Wii, smartphone etc.
link anime Network - wewe have to subscribe to watch most episodes, but they have a large assortment of dubs and subs and a couple simulcasts. the first episode of most series is available without a subscription.
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