The home side came into the game on the back of two home defeats but an impressive home record leaving them just outside the play off places.
Palace had the perfect start to the afternoon on just three minutes when they opened the scoring. A long throw by Lee Hills was headed goalwards by Alan Lee and the ball fell to Nick Carle whose shot towards goal beat Matthew Gilks to give his side an early lead.
Blackpool soon had an opportunity to get back on level terms with a free kick on the left by Barry Bannan on ten minutes and his cross found Alex Baptiste but he couldn't keep the header down and the ball went over Julian Speroni's bar.
After a slow start from the home side they began to get into the game and Stephen Husband shoots towards goal but Speroni gathers after the ball goes up in the air off a defender and a minute later Stephen Dobie gets past his man to get in on goal but the 'keeper collects without alarm.
Two more chances for 'Pool see Dobie shooting wide from just inside the box and Bannan gets in space at the far post from a right wing cross but heads wide.
Just past the half hour mark and Palace extended their advantage with a finish by Darren Ambrose. A ball upfield by Matt Lawrence found Carle and he played the ball along to Ambrose and he put the ball through the 'keepers legs for his 18th goal of the season.
The two goal advantage was held for the remainder of the half even with Ian Holloway introducing the height of Ben Burgess to his forward line.
Blackpool were soon back in the game after with a great strike from just inside the box shooting past Speroni into the bottom corner of the net. Just two minutes into the half a defensive clearance is sliced into the air and then a backward header doesn't get to the keeper as Dobbie collects the ball and plays it across for Charlie Adam to fire in a perfect finish.
Scores should have been level soon after when Dobbie beat his man down the left and crossed but Burgess missed the ball when well placed in front of goal.
The home side started the second half in very confident mood after getting the lift of that early goal and on 63 minutes Dobbie is in space but shoots over from distance.
A tremendous save by Speroni kept his side ahead on 72 minutes when he tipped round a curling shot from centre back Ian Evatt as the seasiders continued to push for that equaliser.
Two clearances as the minutes ticked by, Hill clears a shot from sub Taylor-Fletcher and a minute later Speroni has to tip over an effort by debutant Seamus Coleman.
The pressure paid off in the final minute when Burgess made the final touch to put the ball past Speroni and bring the scores level.
Four minutes of added time saw great saves by Speroni to deny Taylor-Fletcher and then a double save finishing with a great stop to prevent Ormerod.
A second half dominated by the home side but Palace will be thankful to a string of fine saves from their 'keeper to be leaving with a point.
Blackpool Gilks, Coleman, Baptiste, Evatt, Crainey, Adam,Southern, Husband (Burgess 37), Bannan (Taylor-Fletcher 76), Dobbie, Clarke (Ormerod 68).
Subs Not Used: Rachubka, Euell, Edwards, Butler.
Booked: Baptiste, Evatt.
Crystal Palace Speroni, Butterfield, Lawrence, Hill, Hills,Ambrose, Danns, Ertl, Derry, Carle (N'Diaye 82), Lee.
Subs Not Used: Manns, John, Scannell, Andrew, Djilali, Comley.
Booked: Derry, Ertl, N'Diaye.
Att: 9,702 Referee : Phil Gibbs (West Midlands).