Neil Critchley’s side have now gone five games without finding the back of the net, as their attacking woes continue.
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:
1. 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
2. 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
3. Marvin Ekpiteta- 5
Ekpiteta and his colleagues did make a number of big challenges to stop Wolves, but they were ultimately out powered. Photo: CameraSport - Dave Howarth
4. Callum Connolly-5
Connolly produced one of Blackpool's better chances, with his free kick hitting the crossbar. As for his defensive endeavours- it was the same as his teammates, with Wolves just proving too strong. Photo: CameraSport - Dave Howarth
5. Andy Lyons- 5
Lyons didn't have too much of an impact on the game, but worked hard like everyone in the visiting squad. Photo: CameraSport - Andrew Kearns
6. Matty Virtue- 6
Virtue had some bright moments on the ball, and was involved in some of the good things the Seasiders were able to do. Photo: CameraSport - Dave Howarth