It starts tomorrow in South Africa. Some of the games are in Zimbabwe which has created a few problems. England appealed to the International Cricket Conference (ICC) to move their match against Zimbabawe but failed. Also, New Zealand have refused to play Kenya in Nairobi, because of concerns over a bombing in Mombasa in November which killed 16 people.
You can see the schedule here. The participating teams are Australia, Bangladesh, Canada, England, India, Kenya, Namibia, Netherlands, New Zealand, Pakistan, South Africa, Sri Lanka, West Indies and Zimbabwe. According to the betting market, Australia, closely followed by South Africa, is favored to win. Cricket is very popular in Pakistan and India and a somewhat interesting, though time-wasting, game. CricInfo is a very comprehensive site for news, statistics, laws, etc. If you are interested in the rules and history of the game, go here. There are two kinds of games in cricket: the test match and the 1-day international. A test match lasts for 5 full days and is usually slow-paced while a one-day game is faster and more interesting. The world cup obviously consists of one-day games only.
Due to the efforts of cricket enthusiasts at my school, student government is funding the live broadcast of the games on TV. It would be interesting to watch cricket after a long time, though I can’t obviously watch all day.