Inventors of the ‘crack cocaine of gambling’ sold their creation for £100MILLION

Posted on January 27, 2014 by admin
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Ex-bookie Steve Frater helped Walter Grubmuller launch the product in the late 1990s – but the terminals they invented up are massively controversial

A Brit and his Austrian business partner who invented the betting ­machines branded the “crack cocaine” of gambling have made a fortune from their creation.

Ex-bookie Steve Frater helped Walter Grubmuller launch the product from his kitchen in the late 1990s.

Less than a decade later the pair sold their Fixed Odds Betting Terminals’ firm for more than £100million.

Read the full article The Mirror online.