Carlos Tevez came to ten-man Manchester City's rescue at the Reebok Stadium by securing a point with 13 minutes remaining of a rousing encounter which ended 3-3.
It was his second goal of the game and his eighth of the season after Craig Bellamy had been sent off for two yellow cards.
Tevez is now on a roll but the disappointing fact for City was that they failed to build on the splendid victory against Chelsea last weekend.
This was their eighth draw in nine league games -yet it could have been a lot worse.
Bolton belied their lowly league status with a fine performance and Ivan Klasnic also scored a brace. There was also a superb individual effort from Gary Cahill to savour.
Chung-Yong Lee headed over the bar in the second minute before having a hand in the opening goal for the home side in the 11th minute after Matt Taylor's cross had been deflected into his path.
Lee drove the ball across the face of the area and Ivan Klasnic was on hand to score at the back post.
Lee almost added a second shortly afterwards. The Korean's spectacular over-head kick from inside the six-yard area went narrowly over the bar.
Bolton then made a unsuccessful claim for a penalty in the 20th minute when the ball struck Micah Richards' arm.
City were forced to make a change a minute later with Shaun Wright-Phillips coming off and replaced by Stephen Ireland.
Bolton were growing in confidence and Gretar Steinsson rattled a shot wide of the post in the 27th minute after being set up by Lee.
However City drew level a minute later when the home side paid for some sloppy defending.
Zat Knight and Fabrice Muamba were slow to clear the ball and his hesitation was punished by Tevez.
The City striker won possession and then sent a shot from the edge of the area over Jaaskelainen with the help of a deflection.
The visitors stepped up the pace and Gareth Barry saw his effort go wide of the post in the 35th minute after Ireland had flicked on a corner from Bellamy.
Bolton went back in front in the 43rd minute with a superb goal out of nothing.
Cahill got on the end of Steinsson's throw-in, turned quickly then fired a shot beyond goalkeeper Shay Given.
Back came City and they drew level in stoppage time through Richards, who made the most of a good through ball from Bellamy.
Bolton went back in front for the third time with Klasnic's second goal of the game in the 52nd minute.
The Croatian striker hooked the ball home at the back post after Matt Taylor had flicked on a cross from Paul Robinson.
City were stunned and Tevez tried to break free seven minutes later later only to be tripped by Tamir Cohen, a challenge that earned the midfielder a booking.
Muamba then squandered a great chance of extending Bolton's lead in the 60th minute.
He latched on to a loose ball after Lee had been blocked by Sylvinho as the home side launched a swift counter attack.
Muamba scuffed his effort wide of the post from a good position to let City off the hook.
However City were reduced to ten men in the 64th minute when Bellamy was sent off for simulation.
The match took another dramatic turn in the 77th minute when ten-man City again pegged back Bolton's lead.
Ireland won the ball 20 yards out and released Tevez, who fired a shot into the corner for his second goal of the game.
Substitute Robinho then went close for City in the 88th minute, his effort going the wrong side of Jaaskelainen's post as a thrilling match finished all-square.
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