A late goal from Blackpool's Nouha Dicko denied Crystal Palace manager Ian Holloway a win against his former club.
Striker Nathan Delfouneso headed in at the far post to put the visitors in front before Blackpool were punished for their profligacy.
Yannick Bolasie crossed for Owen Garvan to nod home and Glenn Murray also headed in to put Palace in the lead.
Palace looked set for a win but Dicko levelled from a drilled Wes Thomas cross after 89 minutes.
Holloway had nicknamed Dicko "super sub" in his spell in charge of the Seasiders and he was proved right, to his cost, as his side were left three points behind Championship leaders Cardiff.
Blackpool's fifth draw in six unbeaten games under Holloway's successor Michael Appleton leaves them four points off the play-off places.
Appleton had seen his side begin strongly and Craig Cathcart, Isaiah Osbourne and Thomas all went close before Thomas Ince set up Delfouneso for the opener.
Ince failed to take two chances which came his way and Blackpool were punished when Garvan scored, before also rattling the crossbar with a 25-yard free-kick.
Murray's 18th goal of the season put Palace ahead after 64 minutes but they could not hold on to their lead as Dicko earned his side a point.
Crystal Palace manager Ian Holloway: "They were delighted at the end but I didn't like the reaction of one of the men on their bench.
"One of the new fellas looked straight at me when they equalised. It's a war out there and I carried my shield very proud.
"It was not easy to play down the emotion, I was at Blackpool a long time and had great times, but you have to move on."
Blackpool manager Michael Appleton: "I'm sure some players get themselves up for different games, former managers or clubs, and I thought we dealt with them reasonably well.
"I would have been desperately disappointed not to take anything out of the game after having played so well in the first half.
"Just before we got an equaliser, you could see a bit of momentum building. And once we got that, I thought we could have gone on and got the winner."
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Live Text Commentary
Full Time The final whistle is blown by the referee.90:00 +4:43
Nouha Dicko takes a shot from long distance which goes wide of the right-hand upright.90:00 +4:09
Ludovic Sylvestre takes a shot. Save made by Julian Speroni.90:00 +0:43
Free kick awarded for a foul by Mile Jedinak on Thomas Ince. Free kick taken by Ludovic Sylvestre.89:10 Substitution
Substitution Dean Moxey on for Yannick Bolasie.88:25 Booking
Booking The referee cautions Nouha Dicko for unsporting behaviour.88:09
Wes Thomas provided the assist for the goal.88:09 Goal scored
Goal! - Nouha Dicko - C Palace 2 - 2 Blackpool Nouha Dicko scores a goal from close in to the bottom right corner of the goal. Crystal Palace 2-2 Blackpool.87:16 Substitution
Substitution Kevin Phillips on for Nathan Delfouneso.85:13
Glenn Murray concedes a free kick for a foul on Craig Cathcart. Direct free kick taken by Matt Gilks.83:58
Wilfried Zaha produces a right-footed shot from the edge of the area and misses to the left of the goal.81:54
The assistant referee signals for offside against Andre Moritz. Craig Cathcart takes the indirect free kick.80:36
Foul by Wes Thomas on Mile Jedinak, free kick awarded. Julian Speroni takes the free kick.79:02
Nouha Dicko produces a right-footed shot from deep inside the area which goes wide of the left-hand post.78:36
Direct free kick taken by Stephen Crainey.78:36 Booking
Booking The referee shows Mile Jedinak a yellow card for unsporting behaviour.78:30
Nathan Delfouneso fouled by Mile Jedinak, the ref awards a free kick.77:27
Yannick Bolasie crosses the ball in from the free kick.77:27 Booking
Booking Alex Baptiste receives a caution.77:22
Alex Baptiste gives away a free kick for an unfair challenge on Jonathan Parr.
Yannick Bolasie fouled by Isaiah Osbourne, the ref awards a free kick. Direct free kick taken by Mile Jedinak.75:27
Long range effort from Andre Moritz misses to the left of the target.74:26
Owen Garvan takes the direct free kick.74:26 Booking
Booking Craig Cathcart receives a yellow card for unsporting behaviour.74:22
Free kick awarded for a foul by Craig Cathcart on Yannick Bolasie.72:49
Matt Gilks takes the free kick.72:49 Substitution
Substitution Tiago Gomes goes off and Nouha Dicko comes on.72:49 Substitution
Substitution Ludovic Sylvestre on for Angel Martinez.72:49
The referee blows for offside.72:13
Unfair challenge on Yannick Bolasie by Nathan Delfouneso results in a free kick. Free kick taken by Kagisho Dikgacoi.71:02
Free kick awarded for an unfair challenge on Yannick Bolasie by Tiago Gomes. Free kick crossed left-footed by Owen Garvan from left wing, Alex Baptiste manages to make a clearance.70:42
Corner taken short by Wilfried Zaha.69:04
Corner taken right-footed by Yannick Bolasie from the left by-line, save by Matt Gilks.68:27
Unfair challenge on Isaiah Osbourne by Yannick Bolasie results in a free kick. Stephen Crainey takes the free kick.66:40
Glenn Murray fouled by Kirk Broadfoot, the ref awards a free kick. The free kick is delivered left-footed by Owen Garvan from left wing, clearance made by Alex Baptiste.65:49
Glenn Murray takes a shot. Matt Gilks makes a save.65:30
Handball decision goes against Andre Moritz. Angel Martinez takes the free kick.64:25
Unfair challenge on Thomas Ince by Wilfried Zaha results in a free kick. Alex Baptiste takes the direct free kick.63:10
The assist for the goal came from Owen Garvan.63:10 Goal scored
Goal! - Glenn Murray - C Palace 2 - 1 Blackpool Glenn Murray finds the back of the net with a headed goal from inside the area. Crystal Palace 2-1 Blackpool.59:30
Tiago Gomes takes a outswinging corner from the right by-line to the near post, clearance made by Peter Ramage.58:46
Kirk Broadfoot fouled by Glenn Murray, the ref awards a free kick. Free kick taken by Matt Gilks.56:51
Corner taken by Thomas Ince from the left by-line, save by Julian Speroni.54:59
Matt Gilks takes the free kick.54:59 Substitution
Substitution Andre Moritz on for Darcy Blake.54:59
The referee blows for offside against Glenn Murray.52:42
Unfair challenge on Wilfried Zaha by Nathan Delfouneso results in a free kick. Shot on goal comes in from Owen Garvan from the free kick,51:30
The assist for the goal came from Yannick Bolasie.51:30 Goal scored
Goal! - Owen Garvan - C Palace 1 - 1 Blackpool Owen Garvan grabs a headed goal from close in. Crystal Palace 1-1 Blackpool.50:37
Thomas Ince takes the outswinging corner, clearance made by Damien Delaney.47:45
Shot on goal comes in from Stephen Crainey from the free kick,47:45 Booking
Booking Darcy Blake goes into the book.47:31
Free kick awarded for an unfair challenge on Wes Thomas by Darcy Blake.47:12
Mile Jedinak takes a short corner.46:26
Close range strike by Glenn Murray goes over the bar.45:01
The match restarts for the second half.45:01
Unfair challenge on Glenn Murray by Kirk Broadfoot results in a free kick. Mile Jedinak takes the free kick, Yannick Bolasie takes a shot. Alex Baptiste gets a block in.45:00 +2:08 Half time
Half Time It is the end of the first-half.45:00 +1:51
The offside flag is raised against Owen Garvan. Free kick taken by Matt Gilks.43:16
Thomas Ince produces a left-footed shot from just outside the area that goes harmlessly over the target.40:27
Inswinging corner taken by Owen Garvan, Headed effort from deep inside the penalty area by Damien Delaney misses to the right of the target.39:56
Yannick Bolasie takes a inswinging corner from the left by-line played to the near post, clearance by Kirk Broadfoot.38:55
Wes Thomas has a headed effort at goal from deep inside the area missing to the right of the target.38:23
Wes Thomas takes a shot. Save made by Julian Speroni.37:25
Inswinging corner taken left-footed by Owen Garvan from the right by-line, Isaiah Osbourne makes a clearance.36:11
Assist by Thomas Ince.36:11 Goal scored
Goal! - Nathan Delfouneso - C Palace 0 - 1 Blackpool Nathan Delfouneso grabs a headed goal from inside the six-yard box. Crystal Palace 0-1 Blackpool.35:07
Glenn Murray is caught offside. Free kick taken by Matt Gilks.34:45
Alex Baptiste gives away a free kick for an unfair challenge on Yannick Bolasie. Direct free kick taken by Yannick Bolasie.33:23
The offside flag is raised against Wilfried Zaha. Indirect free kick taken by Matt Gilks.32:27
Direct free kick taken by Owen Garvan. Yannick Bolasie delivers the ball, clearance by Alex Baptiste.32:27 Booking
Booking Stephen Crainey is given a yellow card.32:21
Stephen Crainey challenges Wilfried Zaha unfairly and gives away a free kick.28:30
Tiago Gomes challenges Glenn Murray unfairly and gives away a free kick. Glenn Murray takes the direct free kick.27:44
Shot from deep inside the area by Wes Thomas goes over the bar.24:23
Wilfried Zaha takes a shot. Save by Matt Gilks.23:24
Free kick awarded for a foul by Mile Jedinak on Wes Thomas. Free kick taken by Kirk Broadfoot.22:29
Wilfried Zaha concedes a free kick for a foul on Alex Baptiste. Stephen Crainey restarts play with the free kick.21:53
Outswinging corner taken right-footed by Tiago Gomes, clearance made by Jonathan Parr.20:13
The assistant referee signals for offside against Kagisho Dikgacoi. Matt Gilks restarts play with the free kick.18:21
Handball by Wes Thomas. Julian Speroni restarts play with the free kick.17:46
Craig Cathcart takes the direct free kick.17:46 Booking
Booking Yannick Bolasie goes into the referee's book for unsporting behaviour.17:26
Free kick awarded for a foul by Yannick Bolasie on Alex Baptiste.16:50
Corner taken by Owen Garvan from the right by-line, Isaiah Osbourne makes a clearance.16:03
Foul by Nathan Delfouneso on Darcy Blake, free kick awarded. Julian Speroni takes the direct free kick.15:01
Peter Ramage takes the direct free kick.15:01 Booking
Booking The referee cautions Angel Martinez for unsporting behaviour.14:45
Wilfried Zaha fouled by Angel Martinez, the ref awards a free kick.12:18
Free kick awarded for an unfair challenge on Kagisho Dikgacoi by Wes Thomas. Mile Jedinak takes the free kick.9:21
Corner taken right-footed by Tiago Gomes from the right by-line, Glenn Murray manages to make a clearance.8:03
Thomas Ince takes the outswinging corner, Owen Garvan makes a clearance.7:33
The official flags Owen Garvan offside. Matt Gilks restarts play with the free kick.6:07
The offside flag is raised against Wilfried Zaha. Stephen Crainey takes the free kick.5:23
Angel Martinez gives away a free kick for an unfair challenge on Owen Garvan. Owen Garvan crosses the ball in from the free kick, Angel Martinez manages to make a clearance.3:46
Centre by Nathan Delfouneso, Effort from inside the area by Wes Thomas misses to the right of the goal.0:55
Corner taken by Thomas Ince played to the near post.0:00
The referee gets the game started.
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