Reading took a very early lead when Scott Dann scored his first goal for the club, heading in a John Swift free-kick in the eleventh minute.
The Royals doubled their lead just ten minutes later when Tom Dele-Bashiru smashed it in from six yards, following some great pressing to win the ball back from the home side.
It took until the 69th minute for Blackpool to get back into the game, when Owen Dale scored five minutes after coming on to half the deficit, hitting a volley with his right foot into the roof of the net.
Jerry Yates then equalised four minutes later, heading in from the centre of the box. Ten minutes later and Yates completed the comeback, slotting the ball in the bottom left corner from the penalty spot to complete the comeback.
Here is our warmdown of the game, where we go over the key talking points.
Veljko Paunovic decides to sit back on a two-goal lead, and it doesn't work - again
It's clear to see from the score at half-time and full-time that Reading had a calamitous second-half performance, especially after what was a really solid first-half.
The Royals showed their defensive solidity and their attacking potency, making crucial tackles when Blackpool broke and scoring goals of sheer quality. Cruising going into half-time, manager Veljko Paunovic decided to make a half-time tactical change, and it appeared to be to sit back and be a lot more defensive - and it didn't work.
It's not the first time this has happened either. Earlier on in the season against Queens Park Rangers, Paunovic decided to make the same change when they had a two-goal lead, and they blew that lead then too, leading 3-1 before drawing 3-3. Paunovic received a lot of fan backlash that day, with them slamming him for going too defensive and changing a working system. He did it again on Wednesday night, and it was the same result.
Will he make the same mistake again? Time will tell.
Owen Dale makes an instant impact
After a long spell out with a foot injury, it was only last night that Dale made his debut for the Tangerines, after signing from Crewe Alexandra in the summer on loan, with an option to buy in January.
The 22-year-old came on in the 64th minute, and five minutes later he had already scored his first goal for the club. As the ball was cleared from a corner, he hit it into the roof of the net to get them a goal back. He then provided the assist for yates' equaliser, curling a cross in from the left-hand side which was prodded in by Yates.
With all of Blackpool's injuries, can Dale help propel the Lancashire side towards the top six?
Both sides will be dark horses this season
If there was a game to show why both these sides may be dark horses this season, it's this one. Reading showed in the first half the quality they have in their team, taking their chances and they were on top for the majority of the first half. While Blackpool showed in the second half their resilience to come from behind, whilst also showing their quality too. Both these sides have been in good form recently, and have gone under the radar. Keep an eye out for both sides.