Watch the online videos With VLC Media Player (VideoLAN Client)

Open VLC Player and press ctrl+n. now enter the url of the video from the youtube

                

and not only this
WATCH LIVE TV FOR FREE IN VLC MEDIA PLAYER(Even If You Have Low Internet Speed)
Enter the url of the streaming channel. For example if you want to view

NDTV copy and paste the url rtsp://ss1c6.idc.mundu.tv:554/prf0/cid_33.sdp

Like this copy and paste the online streaming channel url in the field and watch.

Benefits of playing youtube vidoes with vlc media player is that the :

You can able to change the Playback speed of the any YouTube video and make it run slower or faster than the Actual or normal speed.
You Can able to take the Snapshot using take snapshot option to capture the any screenshot image of any frame or scene in the YouTube video.
Watch the YouTube videos without the ads. I played a couple of movies and music videos inside VLC and none of them carried any pre-roll ads.