Campbell cancelled out an early Peter Lovenkrands strike in a frantic Premier League clash at Bloomfield Road when his flick was ruled to have crossed the line.
Yet the Seasiders had three penalty appeals rejected and missed a host of other chances as they failed to win for the 13th time in 14 games to remain firmly in the relegation scrap.
Referee Martin Atkinson left the field to chorus of boos for his perceived influence on Blackpool's frustration.
Two of the hosts' penalty claims were very strong, with goalkeeper Tim Krul appearing to bring down Campbell and Danny Simpson clearly, but possibly not intentionally, handling.
The Seasiders had further ill fortune when a Charlie Adam shot, amid a plethora of other chances, struck the post after the break.
Yet it was Adam, whose place in the side after an injury scare had given Blackpool a lift, who contributed to his side's poor start by giving the ball away for Lovenkrands' goal.
Blackpool, seeking only their second win in 14 games, had an early penalty appeal turned down when Campbell claimed to have been caught by Michael Williamson.
Gary Taylor-Fletcher tried his luck from distance as Blackpool looked to attack but his 25-yard low effort went the wrong side of the post.
Newcastle responded with a quick break but Shola Ameobi dwelt too long before shooting, lost complete control and Matt Gilks saved comfortably.
The visitors grabbed the lead after 17 minutes following a dreadful error from Adam.
The Seasiders skipper tried to exchange passes just outside his area but allowed Joey Barton to sneak in and set up Lovenkrands.
The Dane took the ball in his stride and struck a low shot from the edge of the area which found the bottom corner.
Blackpool showed all the spirit for which they have become renowned this season as they fought their way back into the game.
Matt Phillips had a good chance after Alex Baptiste miskicked but blazed well over.
The hosts were furious to have another penalty claim rejected when Campbell seized on a poor pass across goal by Jose Enrique.
The striker appeared to beat Krul to the ball before being brought down by the goalkeeper but referee Atkinson waved play on, much to the fury of watching Blackpool manager Ian Holloway.
Luck turned for both Campbell and Enrique as Blackpool claimed an equaliser after 32 minutes.
The ball looped goalwards off Campbell's thigh as he met an Adam corner at the near post and was ruled to have crossed the line before Enrique headed clear from under the crossbar.
Blackpool had another good penalty shout denied as the frantic first half continued, as Simpson appeared to handle after stumbling in the area.
Holloway's men piled on the pressure before the break and were unfortunate again when Enrique blocked a powerful Baptiste shot on the line.
The second half began at the same frenetic pace as the first with Ameobi firing just over for Newcastle after a driving run by Kevin Nolan.
Adam went close with a low free-kick which curled just wide and Neal Eardley clipped another set-piece narrowly over the bar.
Blackpool should have claimed the lead just after the hour when Stephen Crainey picked out Taylor-Fletcher with a superb cross but the striker's glancing header flew over.
Blackpool were cursing their luck again moments later when Fabricio Coloccini's attempt to break up a slick move involving Campbell and Matt Phillips unintentionally set up Adam.
Adam beat Krul with a sweet low shot from the edge of the area but the ball rebounded off the foot of the post and away to safety.
Taylor-Fletcher had another chance but saw a header blocked and Keith Southern shot wide.
Stephen Ireland had a shot blocked after a goalmouth scramble at the other end and the game wound down as a draw.
Luke Varney had a late opening for Blackpool but was unable to find the target.