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When Betting Shops Close: A Sign of The Times

When Betting Shops Close: A Sign of The Times

Like it or not, gambling/betting is a multi-billion pound industry in the UK.

There are over 8,400 betting shops across the country, and the industry employs over 106,000 people across the country.

And while the gaming industry may have it faults and be looked at as a source of trouble and addiction, as gambling is a very addictive force, it also provides money to charities and “good causes”, over £300 million each year.

Gambling has been around in some form or another for centuries, and if there is gambling there are gamblers. Those who love a game of chance, even if the odds are always against them and in favour of the “house”.

In fact you can place a bet on just about anything these days, and who will be the new Prime Minister is just one such bet.

As to if gambling is entertainment or an addiction lies in the perspective one may take, and also where you look.

Gambling can be fun, the lottery and bingo being some such games. It also can be a crippling addiction that is as strong as some drug addictions, and those affected can lose everything they have.

Regardless, it is a business and an industry that for now has thrived and grown.

Until now.

Recently the FCA has made some changes in how the gambling industry operates, and also issued fines to those who have been too lax in how they allow some to gamble and play games.

The industry feels these changes has hut their business.

William Hill in particular now has plans to close 700 shops, which may affect jobs for 4,500 employees!

In all fairness, the regulation changes may have had a small impact on the business, but a betting shop on every corner, which if you look around there are, doesn’t help either. Competition, even amongst their own shops, doesn’t help.

Currently William Hill has 2,300 shops across the country and employees 12,500 people.

In a statement the company said, “The group will look to apply voluntary redundancy and redeployment measures extensively and will be providing support to all colleagues throughout the process.”

While it has not been noted, one must wonder how much the online betting and gaming has impacted going to your local shop to place a bet?

As a whole, we as consumers are doing more and more online, this especially includes shopping, even for food.

The banking industry has changed as many of use do our banking online, or via mobile banking applications.

So with this “trend” to make purchases, bank, and live our lives in a digital way, why not gambling as well. We can gamble online without leaving the comfort of our homes.

Think about it, you can gamble and lose your house, without ever leaving the house.

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Every lender on our website has their own specific criteria by the basics are mentioned below and you must have a guarantor to be eligible. Simply select the lender of your choice and you will be taken directly to their website where you can apply. You will be required to submit your details including:<li style=”text-align: center;” data-mce-style=”text-align: center;”>Name (must be over 18 as the borrow, 21 or 25 as the guarantor)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Residence (your chances will improve if your guarantor is a homeowner)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Employment status (must be employed or on a pension)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Income (earning at least £600 per month and able to make repayments)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Monthly expenses (not have too many loans open or in major debt)</li>
 
You will then be asked to include the details of your guarantor and as mentioned above, this is usually someone who you know and trust and wants to help you with your personal finances. Ideally, a guarantor with good credit will maximise your chances of being approved based on the idea of ‘if someone with good credit trusts you, well we can too.'<strong>How Much Can I Borrow From Guarantor Loans?</strong>Guarantor Loans gives applicants the chance to borrow £500 to £15,000 depending on the lender. Some lenders we feature like Buddy Loans only have a maximum loan value of £7,500 and TFS Loans is the only lender that stretches up to £15,000.Factors that can influence the amount you can borrow revolve around having a good guarantor. One that is a homeowner, with solid employment, income and good credit rating will maximise your chances of borrowing the largest drawdown possible.The lenders featured on Guarantor Loans see a homeowner as someone who has already gone through the rigorous process of credit checking and affordability and if they can afford a house, they should be able to act as a guarantor for you.By comparison, having a guarantor that is not a homeowner offers slightly less security and means that amount you can borrow is slightly less too.Higher amounts may be available to those who already have a better than average credit rating, are homeowners themselves and a repeat customer with the lender who has already paid their loan on time. To apply directly with your lender of choice see <a href=”https://www.paydaybadcredit.co.uk/direct-lender/” data-mce-href=”https://www.paydaybadcredit.co.uk/direct-lender/”>direct lenders</a>.<strong>What Does The Guarantor Have To Do?</strong>Upon completing an application, the lender will typically send you a <a href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html” data-mce-href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html”>pre-contract loan agreement</a> and SECCI (Standard European Consumer Credit Information form) which will highlight the terms of your loan. You and your guarantor will be required to review the terms of the loan, including the loan drawdown, fees, repayment dates and responsibilities – and this can be signed via an online verification process using your email and mobile phone.The lender will usually carry out an individual phone call with you and your guarantor to ensure that you both understand the responsibilities and what is required of you – notably that if you cannot make repayment, your guarantor will be required to pay on your behalf. Further to some additional credit and affordability checks, funds can typically be transferred within 24 to 48 hours (or sometimes on the same day).<strong>Are Guarantor Loans Available For Bad Credit Customers?</strong>Yes, even if you have a history of adverse credit, <a href=”https://www.gov.uk/county-court-judgments-ccj-for-debt” data-mce-href=”https://www.gov.uk/county-court-judgments-ccj-for-debt”>CCJs</a>, bankruptcy or IVAs several years ago, you can still be eligible. The idea is that you are using your guarantor and their financial history to ‘back you up’ and give your loan extra security. However, it is noted that your guarantor should have a good credit score and consent to co-signing your loan agreement.<strong>How Soon Can I Receive Funds?</strong>Guarantor Loans works with lenders that can facilitate funds within 24 to 48 hours of approval, or sometimes on the same day.When your funds are successfully transferred, most lenders working with Guarantor Loans will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.