Anyone build tethered gas model cars in the 50's?

I have an old mid forties one with a McCoy engine, a real McCoy, but with the name filed off the block, I suspect wagering was involved.
There is a park a good drive away that has a set up for these cars, it is placed in a chain link fence, and they race modern stuff there. Looks dangerous, for a toy, those cars are fast.

I saw what might have been a reason for past popularity, besides limited choices, of course. I was walking past a navy ship with a crowd of sailors on the dock. They were racing tether cars for money. I suppose they work on the stuff at sea, and then settle things at the dock. Just a guess, but logical, since most guys haul *** to town at the first chance.

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Anyone build tethered gas model cars in the 50's?