Worst Super Bowl for Bookmakers was Superbowl Eight.
The Steelers beat the Cowboys 35-31 in the Orange Bowl on January 21st 1979. The game opened -4.5 Steelers and closed -3.5 Steelers. This was the game that Dallas tight end Jackie Smith dropped a sure TD Pass right in his hands thrown by Roger Staubach. In the third quarter, both teams began to assert themselves on the defensive side of the ball. But late in the quarter, a 12-yard punt return by Cowboys receiver Butch Johnson gave Dallas good field position on their 42-yard line.
The Cowboys subsequently drove down to the Steelers 10-yard line, mostly with Tony Dorsett's rushing. Then on third down with less than three minutes remaining in the period, Staubach spotted 38-year old reserve tight end Jackie Smith wide open in the end zone and threw him the ball. The pass was a little behind Smith, but it was catchable. However, Smith dropped the pass and the Cowboys had to settle for a field goal from kicker Rafael Septien, cutting their deficit to 21–17.
Though Smith played 16 years in the league and is now enshrined in the Pro Football Hall of Fame, he is perhaps best known for his embarrassing blunder on the sport's biggest stage.
The Cowboys were the first team to score 30 points or more and still lose the Super Bowl.
The 4th quarter was incredible. With Pitt up 28-17 after a 22 yard Franco Harris TD run. The ensuing squib kickoff by Roy Gerela bounced to Cowboy lineman Randy White at the 24-yard line. White, who was playing the game with a cast on his broken left hand, fumbled the ball after being hit by Tony Dungy and Pittsburgh linebacker Dennis Winston recovered the ball at the Dallas 18-yard line. On the next play, Bradshaw threw an 18-yard touchdown pass to Lynn Swann, increasing the Steelers' lead to 35–17 with less than 7 minutes left in the game.
Although the game seemed decided, the Cowboys refused to give up. On their next drive, Dallas drove 89 yards in 8 plays to score on Staubach's 7-yard touchdown pass to Billy Joe Dupree. Then after Dallas' Dennis Thurman recovered an onside kick at 2:19, Drew Pearson caught 2 passes for gains of 22 and 25 yards as the Cowboys drove 52 yards in 9 plays to score on Staubach's 4-yard touchdown pass to Butch Johnson. With the ensuing extra point, the score was cut to 35–31 with just 0:22 left in the game.
But the Cowboys' second onside kick attempt was unsuccessful. Rocky Bleier recovered the ball and the Steelers were able to run out the clock to win the game.
The game fell 4 which was a stone cold middle and rocked the sportsbooks in Las Vegas and locals everywhere. Back then totals, half times and props were not yet big deals like they are today. Most bettors played the side for the whole game only. Essentially no one lost except the books, all plus 4.5s, and minus 3.5s won and naturally all plus or minus 4s pushed.
I watched the game at the old Stardust which back then was still the superbook on the Vegas strip. The place was packed and the lines after the game ended were incredibly long with happy punters...
Obviously a lot very unhappy Las Vegas sportsbooks took a bath but as far as I know they all survived. Hard to say what happened to locals all over the country. There was no Offshore at the time that I know of.
wil..