A goal apiece from Roger Johnson and Craig Gardner saw Blues claim a point with a 2-2 draw at the Reebok.
But it could and probably should have been a victory for Alex McLeish's side against ten-man Bolton.
Johnson had fired his side into a quick fire lead with just four minutes on the clock before Gardner doubled his side's advantage minutes after the half time break.
In the meantime Bolton had been reduced to ten men after keeper Jussi Jaaskelainen inexplicably slapped goalscorer Johnson following a nothing challenge from the Blues centre half on 36 minutes and he was shown the red card for his troubles.
But Bolton found themselves back in the game late on after being awarded a soft penalty by referee Kevin Friend, which was subsequently converted by Kevin Davies.
Former Blues striker Robbie Blake then rattled in the equaliser after Bolton were awarded another favourable free kick on the edge of the box.
Blues boss McLeish made a solitary change to the side that beat Blackburn last weekend.
Nikola Zigic was dropped to the bench, with Lee Bowyer returning to the starting XI, as McLeish opted to go with a five man midfield.
Cameron Jerome started the game up front as the solitary striker.
On a cold and blustery afternoon in the north-west Blues got off to the perfect start as defender Johnson fired his side into the lead
But it was the fine build up play involving James McFadden and Lee Bowyer that led to the opening.
McFadden collected the ball on the left, beat his man and then fed Bowyer with an inch perfect reverse pass on the by-line.
Bowyer slid the ball across the front of the Bolton goal for Johnson to fire the ball home from close range.
Having been stung by going behind so early on, Bolton upped their tempo and Martin Petrov twice threatened the Blues goal in a matter of minutes.
His first effort was blocked by Stephen Carr and Ben Foster dived low to his right to save his second shot.
With 21 minutes on the clock Blues looked to have a good shout for a penalty after Cameron Jerome appeared to be pulled back in the Bolton box.
But referee Friend waved his protestations away and Bolton broke quickly.
Blues subsequently conceded a free kick right on the edge of their box, but thankfully Foster was on hand to tip Stuart Holden's effort over the bar.
The whole complexion of the game changed on 36 minutes following a moment of madness from Jaaskelainen.
Johnson challenged the Bolton keeper for the ball and although the Finn collected the ball he bizarrely got up and slapped Johnson around the face.
Referee Friend had no choice but to issue him with a straight red. In the melee that followed Johnson was also cautioned.
Petrov was substituted to allow Adam Bogdan to come on as a replacement for his dismissed colleague.
Despite being down to ten men it was Owen Coyle's men who pushed forward and created the next chance.
Holden hit a powerful goalbound shot from 20 yards, but Johnson was there to stick a foot out and deflect it over the bar for a corner.
Half time: Bolton 0 Blues 1
Just five minutes after the restart McLeish's men doubled their goal advantage, courtesy of Gardner.
McFadden crossed the ball in for Jerome at the far post. Jerome unselfishly headed it back across the six yard box for Gardner to fire it home from two yards out at the second time of asking.
On 55 minutes Foster acrobatically saved from Johan Elmander and then Jerome fired a volley just yards right of the post as Blues burst down the other end of the pitch.
Their two goal deficit meant that Owen Coyle's side were looking to push forward as often possible.
However at this point Blues were content to contain them and then break rapidly on the counter attack.
With 68 minutes on the clock both managers decided to make a substitution. Former Blues striker Blake replaced Elmander for the Whites and Matt Derbyshire came on for McFadden.
Then with Blues seemingly cruising to a comfortable victory Bolton were given a lifeline by referee Friend.
On 70 minutes Davies went down under the softest of aerial challenges from Johnson, but Mr Friend pointed to the penalty spot.
Davies himself stepped up and fired the ball into the top right hand corner to bring his side back into the game.
With just over a quarter of an hour remaining the game was halted for several minutes as Seb Larsson received treatment for a knee injury, which eventually resulted in the Swede limping from the pitch to be replaced by Keith Fahey.
With less than ten minutes to go Bolton found themselves level after another generous refereeing decision, as Bolton were awarded a free kick right on the edge of the Blues box.
Blake stepped up and curled a brilliant effort into the top corner past the despairing fingers of Foster.
As the game entered stoppage time Jerome saw his shot saved by Bogdan using his legs and then Gardner shot just over from distance.
Full time: Bolton 2 Blues 2
Blues: Ben Foster, Stephen Carr, Lee Bowyer, Roger Johnson, Liam Ridgewell, Seb Larsson (Keith Fahey, 76), Craig Gardner, Barry Ferguson, Scott Dann, James McFadden (Matt Derbyshire, 68)
Subs not used: Maik Taylor, David Murphy, Garry O'Connor, Nikola Zigic, Enric Valles.
Goals: Johnson (4), Gardner (51)
Bookings: Johnson (36), Larsson (72).
Bolton: Jussi Jaaskelainen, Gretar Steinsson, Paul Robinson, Gary Cahill, Fabrice Muamba, Stuart Holden (Mark Davies, 78), Johan Elmander (Robbie Blake, 68), Martin Petrov (Adam Bogdan, 38), Zat Knight, Kevin Davies, Chung Yong Lee.
Subs not used: Matt Taylor, Sam Ricketts, Marcos Alonso, Andy O'Brien.
Goals: Davies (71, pen), Blake (81)
Bookings: Muamba (89)
Sendings off: Jaaskelainen (36)
Referee: Kevin Friend
Attendance: 18, 139
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