Bolton clinched a late winner through new signing Daniel Sturridge to move up to eighth on the Premier League table.
The match looked it was heading for an uninspiring draw until the Chelsea man found the target three minutes into injury time to give the Trotters a 1-0 win at the Reebok Stadium.
Neither side had real claims for the win as both the Trotters and Wolves lacked much creativity up forward but Owen Coyle's side will take the win which saw Mick McCarthy and his Wolves fall to the bottom following West Ham's win at Blackpool.
Venue: Reebok Stadium, Bolton Crowd: 18,944 Referee: Peter Walton Yellow cards:BW - Paul Robinson 57' WW - Richard Stearman 57', Karl Henry 67', Ronald Zubar 73'
Matt Jarvis had a good chance for Wolves in the 10th minute when he was one-on-one with Jussi Jaaskelainen but put his shot wide just a minute before Wayne Hennessey was required to make a smart one-handed save from Johan Elmander's blast.
The 20th minute saw Hennessey come up with another fine save, this time from a Matt Taylor shot, but for the remainder of the half there were only half-chances in a fairly dour contest.
The second half was much the same with neither side really prepared to take any risks and shoot for the win. Bolton had a couple of chances through Lee Chung-yong and again from skipper Davies whilst Wolves' were denied by the post in the 87th minute when Kevin Doyle looped over Jaaskelainen.
GOAL But there was to be some drama when substitute Daniel Sturridge had some good fortune when Ronald Zubar made an error in defence and the Blues loanee needed no invitation to slot home for the winner, making him an instant hero at the club.
BoltonJussi Jaaskelainen (gk), Zat Knight, Gary Cahill, Paul Robinson, Sam Ricketts, Matt Taylor (Sturridge 68'), Stuart Holden, Mark Davies, Lee Chung-yong (Rodrigo 67'), Johan Elmander, Kevin Davies (Muamba 90+1')
Subs - Adam Bogdan (gk), Rodrigo (67'), Daniel Sturridge (68'), Fabrice Muamba (90+1')
Wolves Wayne Hennessey (gk), Christophe Berra, Ronald Zubar, Richard Stearman, George Elokobi, David Jones, Karl Henry, Matt Jarvis (O'Hara 75'), Adam Hammill (Ebanks-Blake 89'), David Edwards (Ward 75'), Kevin Doyle