Actually Ascoyne, although I didn't use that argument myself, I think there is some merit in it.
My judgement is based on: how does the animal live, and how does it die? That's all that matters. Does it have a good life, with the best standards of care, with veterinary attention when it needs it, with the company of others of its species? When death comes - as it inevitably will to any animal born - is it a quick and relatively humane death, as free as possible from pain and fear and drawn-out suffering?
That is all that matters to an animal. Until the very final few minutes of their life they have no concept of impending death. They aren't aware whether they're being bet on, of being entertainment or food. What matters is the standard of care during life and the efficiency of their despatch.
And so, for me - and I appreciate this is a personal judgement call, and others feel differently - racing is, in the main, a better life for horses than being raised for food is for cattle and pigs in particular, and sheep to a certain extent. There are some excellent farmers who love and respect their livestock and who give them that excellent standard of care. Unfortunately there are many more who don't, and as we import such a huge quantity of meat from countries where welfare standards are usually even lower than the poorer farmers in the UK, I think it is rather hypocritical to shed a tear over a fallen Grand National runner, whose life was one of equine luxury and whose death was quick, while not giving a thought to the horrendous actual cruelty which was necessary to put a slice of bacon, a piece of veal, a pint of milk on the table.
No-one needs to eat meat. It is a choice, just as much as putting a bet on.