TikTok is a popular service for creating and watching short video clips. The Chinese company ByteDance own the international Tiktok application. According to the statistics, in August of this year, the number of monthly active TikTok users in the world exceeded 700 million. Among them, more than 100 million are from the United States. Besides, in total, the application has been downloaded more than 2 billion times worldwide. However, recently US President Donald Trump has announced that soon Americans will not be able to use their favorite app. So why do bookmakers worldwide offer to bet on TikTok to be banned in the USA? Let’s figure it out.
Why TikTok faces a ban in the USA
On the 6th of August 2020, Donald Trump issued a decree to block the TikTok app in the United States. It happened for reasons of national security unless a company from the United States does not buy access to control this service on the territory of the country. This month, the deadline for closing the deal changed back to the 12th of November. The American authorities explain their demand by fears that the Chinese government will gain access to the data of US citizens using TikTok. Initially, they considered Microsoft as the most likely buyer. However, in October, they announced that ByteDance refused to sell its American business to it. Other potential buyers include Walmart Inc., Oracle Corp., and Twitter Inc.
Oracle has already confirmed that it is participating in a proposal to reorganize TikTok’s U.S. operations, which ByteDance has sent to U.S. authorities. At the same time, the media reported that Trump didn’t agree with the terms of the deal. According to The Wall Street Journal, ByteDance, as part of an agreement with Oracle, proposed to spin-off TikTok into an independent company that would have its registration in the United States. However, it would remain under the control of ByteDance and Oracle would become TikTok’s technology partner in the United States and a minority shareholder. Well, no wonder why Trump is against this deal because it will not change much in reality. Thus, online sportsbooks in the USA have decided to help you make money on it. They offer you to bet on TikTok to be banned in the USA.
What are they accusing TikTok of?
United States officials regularly file complaints against TikTok, suspecting the social network of working for the Chinese government and intelligence. The activity of the application is posing a threat to US national security. For example, last October, Republican and Democratic senators Tim Cotton and Chuck Schumer, in a letter to Joseph Maguire, then acting director of National Intelligence, called for an assessment of the risks associated with TikTok. The congressmen said that the social network collects personal data of Americans. Moreover, this information can allegedly go to the state and security agencies of the PRC upon request. Senators also do not rule out that the TikTok administration is censoring materials that are “politically sensitive” for the Chinese Communist Party.
The latest reason for the restrictions was the US authorities’ belief that TikTok and the WeChat messenger could help Chinese communists with their disinformation and propaganda campaigns. The Trump decree says that through TikTok, the Chinese authorities can collect personal data of US citizens. Moreover, they can track the whereabouts of government officials, and use this information for espionage purposes. Reuters points out that if TikTok is essentially an entertainment application, then WeChat is popular among the Chinese businessmen, and its ban could negatively affect further negotiations with American partners. It also explains, among other things, the fact that other popular instant messengers like WhatsApp are officially illegal in China. And now we can bet on TikTok to be banned in the USA. Sounds unusual, doesn’t it. Read about Five Weird Bets to learn about other unusual betting opportunities.
Bet on TikTok to be banned in the USA
Earlier, the US authorities fined TikTok $ 5.7 million for illegal, in their opinion, collection of data on American children under 13 years old. The service is currently under control of the United States Foreign Investment Committee (CFIUS) for potential national security risks. Besides, a month ago, The Guardian reported leaked internal documents by ByteDance, the owner of TikTok. It became known that the TikTok leadership ordered its moderators to censor videos that mention “sensitive” topics for China. These are such events as in Tiananmen Square, Tibetan independence, and protests in Hong Kong.
The State Department is very categorical about the activities of the social network. In early July, on Fox News, US Secretary of State Mike Pompeo, when talking about a possible ban on Chinese applications, including TikTok, said that the authorities were taking measures to protect information about citizens. Therefore, online sportsbooks in the USA are waiting with anticipation for the future of this application in the country. Check the latest odds on BetOnline and make real money in no time.
What do TikTok representatives answer to this ban?
The TikTok administration has repeatedly denied Washington’s accusations. At the end of July, CEO Kevin Meyer said that this social networking site was outside of politics. “TikTok remains a safe platform for tens of millions of American families,” he said. Mayer also said that the company plans to create 10,000 new jobs in the United States through business development. At the same time, the top manager pointed to unfair competition from Facebook. So should we bet on TikTok to be banned in the USA? Well, let’s find it out.
Betting on TikTok to be banned in the USA
US President Donald Trump has officially announced that the country will ban TikTok and other Chinese apps and services. TikTok will be able to continue working here if an American company acquires it, and part of the amount from the transaction goes to the US Treasury. On the one hand, it looks more like extortion. In reality, it does not happen out of anywhere: the American audience of the application is large. Today, already 62% of US teenagers use TikTok. It occupies the third place of popularity among all platforms. When asked who would get the rights to the TikTok brand if it were owned by two different companies, Trump said it would be easier for Microsoft to buy out the entire company. So far, the prospects for negotiations are vague.
One Financial Times source compares the negotiations and all the circumstances of a possible deal with a game of chess. Why? Because it takes place in several dimensions at once. In addition to the price and timing, these are the prospects for the separation of technologies and algorithms of TikTok and ByteDance. In reality, this may take Microsoft years, but first, it will have to be coordinated with the authorities. So far, we see specific US sanctions that could lead to the blocking of one of the three most popular resources in the country. On the other hand, representatives of TikTok do not express any resistance and go to negotiations with Microsoft. However, we do not see any progress on this issue yet. The discussion continues. Therefore, you still have time to make up your mind and bet on TikTok to be banned in the USA on BetOnline. Good luck!