Neil Critchley’s side have now gone five games without finding the back of the net, as their attacking woes continue.
Kenny Dougall and Callum Connolly came close to beating Dan Bentley at Molineux, with both of their efforts striking the woodwork.
Wolves opened the scoring in the 10th minute, courtesy of a goal from Sasa Kalajdzic.
The Austrian was first onto a rebound, after an initial good save from Richard O’Donnell.
Fabio Silva doubled Wanderers lead ahead of the half hour mark, with his strike taking a deflection go go past the keeper.
After the break, Matt Doherty scored a brace in the space of seven minutes, before Nathan Fraser rounded off the win.
Here is how the Seasiders performed:
. Richard O'Donnell- 5
O'Donnell was unlucky with some of the deflected goals from Wolves, and was left defenceless at times. Ultimately, the saves he did make were pretty straight forward. Photo: CameraSport - Andrew Kearns
. Matthew Pennington- 5
It was a tough night for the defence against their Premier League opponents- who proved too strong and fast on a number of occasions. Photo: CameraSport - Dave Howarth
7. Kenny Dougall- 6
Dougall had Blackpool's best chance of the game, with a shot from distance hitting the inside of the post. Photo: CameraSport - Andrew Kearns
8. Jensen Weir- 6
Like Virtue, Weir had some bright moments against a tough opponent. Photo: CameraSport - Andrew Kearns
9. Dominic Thompson- 7
Dominic Thompson was probably the standout player for Blackpool- making some good contributions in defence and having a couple of bright moments in attack. Photo: CameraSport - Andrew Kearns
10. Sonny Carey- 6
Carey had some bright moments going forward, and led the press for Blackpool. Photo: CameraSport - Andrew Kearns
11. Jake Beesley- 5
Beesley was kept quiet by Wolves and couldn't impact proceedings too much. Photo: CameraSport - Andrew Kearns
12. Subs
CJ Hamilton and Rob Apter (both 5/10), Albie Morgan (N/A). Photo: CameraSport - Andrew Kearns