How to update youtube-dl in Ubuntu

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Youtube-dl by far is the greatest tool to download YouTube videos, not to mention majority of YouTube downloader applications make use of it as their core engine.
Youtube-dl is available in official Ubuntu repository. You simply can install it. However, there is a problem with the official repository. The package is not getting updated as frequent as YouTube updates its anti-download security system, even though Youtube-dl developers release updates very frequent. In such case, even if you attempt to update Youtube-dl with -U switch, you will get following error,

It looks like you installed youtube-dl with a package manager, pip, or a tarball. Please use that to update.

To resolve the issue, I did Google search and came across with below solution which indeed is piece of cake. You just required to run these commands.

$ sudo wget -O /usr/local/bin/youtube-dl
$ sudo chmod a+x /usr/local/bin/youtube-dl

Now your Youtube-dl should work properly. Keep calm and enjoy downloading YouTube videos.