In an interview with Kotaku, Game Director Jeff Kaplan confirmed that the game will have dedicated servers, but that they wont be public and will be hosted within the Blizzzard server empire. That means no private servers hosted by third parties like you'll find in BF3 or Modern Warfare.

We’ll allow you to set up some of those things that traditional dedicated servers allow you to do. Basically give you a safe place to go play a match to play with your friends and not go into the big matchmaking pool, we’ll have a setup that will allow for that as well.

The game will also launch with a spectator cam, that can be used to view games in action right from the client. Although the full featured version wont be available in time for when the beta hits, there will be a stripped down spectator option for watching your friends play.

But in the beta if someone has someone on their friends list and they just want to watch their friend play, they can go in and spectate if the spectate slot is open for them.

The Overwatch beta goes live sometime "Fall 2015" so keep your eyes peeled.