This is a good and detailed Guide (31 page PDF) on how to create a channel and broadcast live events with YouTube. Note that if you're not a 'brand' you can just skip over the sections on brand accounts. The information on live streaming starts in the second section (page 13) and is detailed enough that you should be successful. Note that you can get away with lower bandwidth than they recommend (I have), but you probably shouldn't try. Note also that you don't have to use an encoder (a webcam or your mobile phone will work fine) but the encoder allows you to do a lot more.
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