A late equaliser from Nathan Delfouneso ensured Michael Appleton's reign at Blackpool started with a positive result.
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Bolton Wanderers were ahead after just 13 minutes when Mark Davies latched on to a loose ball to glide past a defender and finish coolly from close range.
Blackpool were level just two minutes later when Thomas Ince curled home a strike from the edge of the area.
Martin Petrov and Ludovic Sylvestre both came close to making the difference in an evenly-matched second half but it was Dougie Freedman's side that made the breakthrough late on.
A pinpoint cross from Chris Eagles eventually found its way to Lee and the substitute made no mistake from two yards out to give Bolton the lead.
Freedman's side could not hold on as two subs combined to draw Blackpool level 10 minutes from time.
A near-post flick from Kevin Phillips found Delfouneso unmarked at the back post and he made no mistake with an assured header.
