while stationed in the UK back in the early 80's I saw this a couple of times, both in England and in Germany plus also saw a sphere like deal where it was mesh type material and the riders rode around inside sometimes completely upside down. was pretty neat. I think it died here when they started making small-large amusment parks and family parks.
there are still a couple places/ways to catch the fun in the USA.....

http://www.americanwallofdeath.com/

http://www.californiahellriders.com/