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Bookmakers have expressed concern over plans to replace traditional odds with decimal prices.

The Racing for Change taskforce is running a trial in the spring as one of 10 initiatives aimed at boosting the popularity of the sport.

But many bookmakers are not convinced it will resonate with the public and fear it will harm their balance sheets.

The Daily Telegraph quotes William Hill spokesman David Hood as saying: “The items revealed by Racing for Change do not offer the solutions we had hoped for. We had a trial of a decimal-odds football betting coupon two years ago and it proved to be extremely unpopular. There is no research to indicate that our customers want it.”

Geoff Banks, an independent bookmaker, added: “We were not consulted and I don’t believe the committee has any experience of on-course bookmaking.

“We will have a whole industry based on eBay prices. The margins are going to be squeezed very tight. I am far from convinced this will work. In fact, it will be destructive.”

However, Ladbrokes spokesman David Williams said he welcomes any moves to attract new audiences to the sport.

“Anything that will help slow down or reverse the trend that has seen people moving away from racing has to be welcomed,” he noted. “The only people who will object to it are people who don’t want to be part of the future.”