Lee Clark came away with a first point as Seasiders boss on his return to Fulham following the draw in west London.
But the former Cottagers midfielder watched his new side blow the chance of only their second win of the season thanks to a needless red card for captain Tony McMahon.
Clark, whose side kicked off eight points adrift at the foot of the table, looked set to steal his old Fulham team-mate Kit Symons’ thunder on his first home match since being named permanent manager.
Blackpool raced into a 2-0 lead courtesy of goals from Ishmael Miller and Jacob Murphy, only to go down to 10 men thanks to McMahon’s moment of madness five minutes before the break.
Scott Parker pulled a goal back in first-half stoppage time, yet despite the inevitable second-half onslaught Fulham could only muster an equaliser when Bryan Ruiz’s corner flew straight in.
Clark, a tenacious midfielder who played 149 games over six successful years for Fulham, was given as warm a reception as Symons on his first visit back to the Cottage as a manager.
But that welcome quickly evaporated when Miller fired Blackpool into the lead with just 90 seconds on the clock.
Donervan Daniels clipped a hopeful ball into the box and Fulham defender Nikolay Bodurov misjudged the flight, allowing Miller to control on his chest before slotting past home goalkeeper Marcus Bettinelli.
And the hosts found themselves two down when Miller was allowed to reach the byline before crossing for Norwich loanee Murphy to tap in a debut goal.
However, in the 40th minute the match appeared to swing in Fulham’s favour the moment McMahon petulantly swung his leg at Hugo Rodallega after both contested a drop-ball.
Referee Robert Madley – seemingly on the advice of one of his assistants – stopped play after a few seconds and showed the defender a straight red card.
And as the first half entered stoppage time Fulham halved the deficit – Daniels’ clearance falling to Rodallega, who played in Parker for a neat finish inside the near post.
It was predictably one-way traffic in the second half but Fulham were continually frustrated as Rodallega volleyed over, George Williams side-footed wide and Lewis made stunning saves to deny Elsad Zverotic and Bodurov.
But Blackpool’s brave rearguard was breached in the 72nd minute when Lewis, under pressure from Dan Burn, let Ruiz’s corner sneak straight in at his near post.
Fulham pressed for a winner but Blackpool somehow held out with Zverotic blazing over and Lewis saving Ruiz’s low drive two minutes from time to ensure a point from Clark’s second match in charge.