William Hill applies to turn old Barclay's bank in Amen Corner, Tooting into bookmakers.
A betting shop has applied for a licence to allow gambling in a former bank.
William Hill are hoping to turn the old Barclay's bank building in Amen Corner, Tooting, into a bookmakers.
The proposals have sparked outrage within the community, who fear the move could lead to street drinking and anti social behaviour.
The company want to allow betting in the building, including four gaming machines for customers to win maximum prizes of £500.
There are also plans to build a facia, protections and signs.
Upset neighbours have said they fear underage betting, an increase in crime and loitering of patrons outside the premises.
Dorina Markoff-McNulty, who lives nearby, said: "There is no doubt that a betting shop right in the middle of Amen Corner, at the crossing lights, in the largest part of the sidewalk with the tree in the middle of it with its possible sitting area around, must be the most inappropriate choice of a commercial business."
In a statement last year William Hill said: "We believe that there will be reasonable business to justify our investment.
"We will be creating five jobs in the local area driving revenue, and foot traffic to the local economy and providing a facility that we believe will be a success within the community."
Councillors are set to make a decision at the licensing sub-committee tomorrow.