Wolves 2 (Gibson 24, Elliott-pen 59)
Burnley 3 (Blake 20, Lafferty 30, D. Ward og 41)
Wolves fell to a second defeat inside the space of five days as they went down to Burnley in front of Sky TV cameras at Molineux.
The Clarets were 3-1 up at the break and although Stephen Elliott pulled one back from the spot, there was to be no point saving comeback.
Mick McCarthy made three changes to the side that started in the disappointing setback at Barnsley, with Jay Bothroyd, Elliott and Darron Gibson coming in for Andy Keogh, Matt Jarvis and Darren Potter.
Wolves kicked-off attacking the North Bank end after some initial probes from the home attack, Burnley won the first corner of the game off Kevin Foley after Seyi Olofinjana had lost possession to Andy Gray.
Gray took the corner himself but Neill Collins was on hand to head clear.
There was another worrying moment for the home defence when Andy Gray and Robbie Blake exchanged passes and Blake went down under Darren Ward's challenge right on the 18-yard line. The visiting players appealed for a penalty but Ward looked to have taken the ball cleanly and the referee waved play on.
Stephen Elliott just failed to get his head to a deep cross from Gibson who then won Wolves' first flag-kick when his shot cannoned behind off Jon Harley in the ninth minute.
Collins' header from Gibson's corner was headed back out to Gibson and this time his cross was punched clear by Gabor Kiraly.
When Michael Gray's left-wing cross was headed out to Olofinjana, the Nigerian worked a shooting position for himself and let fly from 25-yards. But the ball struck a defender and went behind for what was an unproductive corner.
Foley got back in a nick of time to prod the ball back to Wayne Hennessey as Blake threatened before The Clarets were denied by a brilliant piece of goalkeeping.
Chris McCann's shot came back off the post and rolled behind the Hennessey. Blake swooped on the loose ball and looked a certain scorer but the keeper was up like a shot to block and divert the ball to safety.
Just three minutes later, however, the Welsh international tasted the bitter side of life in football after Foley had been penalised for a foul on Blake near the left corner of the Wolves box.
Hennessey made what looked like a routine save from Blake's free-kick but the ball span out of his arms and rolled agonisingly over the line.
It took the home side just four minutes to draw level. Elliott slipped a pass to Stephen Ward who got a second chance when his low cross bounced back to his feet off Clarke Carlisle. This time Ward found Gibson who hit a shot that bounced into the net of the inside of the far post.
The joy proved to be short-lived though with Burnley regaining the advantage on the half-hour mark. Wade Elliott delivered a centre from the right and the ball was allowed to run through to the far post where Kyle Lafferty scored from just a yard out.
Kiraly claimed Olofinjana's shot on the turn as Wolves looked to hit back and then the Hungarian keeper gathered a Bothroyd free-kick.
Hennessey made another fine save when he deflected the ball onto the top of the bar after Blake had chased down a through ball into the Wolves area.
But the corner that followed wasn't properly cleared and when Blake returned the ball into the box, Carlisle powered a header that was going wide until it hit the hand of Darren Ward and flew into the net.
Half-Time: Wolves 1 Burnley 3
Kiraly had little difficulty in saving Gibson's low shot shortly after the restart and then, after Lafferty had fouled Foley to the right of the Burnley goal, Bothroyd's free-kick sailed through the area and out beyond the far post for a goal kick.
Hennessey clutched a Gray shot above his head before a forceful run by Bothroyd ended when Harley nipped in to turn the ball behind for a corner.
Collins was booked for tripping Harley, with Blake's free-kick dipping narrowly over the bar, before Stephen Elliott reduced the deficit in the 59th minute.
Olofinjana was pulled back by Gray as he ran in onto Bothroyd's free-kick from the right. The referee pointed straight to the spot and Elliott lashed the ball past Kiraly.
Almost immediately Eastwood went on for Gibson and, after Burnley went close to a fourth with Lafferty poking the ball wide after a low cross from Gray, Jarvis replaced Stephen Ward.
Carlisle was booked for blatantly obstructing Jarvis before a Collins foul on Gray led to a Burnley free-kick that saw Hennessey making an acrobatic save by touching Joey Gudjonsson's well struck effort over the bar.
In the dying minutes play was switching from end to end with Eastwood and Elliott having shots blocked by defenders and Hennessey diving to save from Gudjonsson who had been set up by Ade Akinbiyi.
In stoppage time, a deep Michael Gray free-kick was cleared, Karl Henry fired wide from 20-yards, and Elliott headed over from Eastwood's cross right on the final whistle.
Wolves: Hennessey, Foley, Gray, Henry (capt), D. Ward, N. Collins, Olofinjana, Gibson (Eastwood 60), S. Elliott, Bothroyd (Keogh 73), S. Ward (Jarvis 71).
Unused subs: Edwards, Ikeme.
Booking: Collins (56 - foul).
Burnley: Kiraly, Alexander (capt), Harley, Carlisle, Gray (Akinbiyi 88), W. Elliott, McCann, Lafferty, Mahon (Gudjonsson 68), Blake (O'Connor 83), Unsworth.
Unused subs: Jensen, Jones.
Booking: Carlisle (80 - obstruction).
Referee: S. Tanner.
Attendance: 20,763.
Manchester City 1 Wolves Academy under 18s 0
Goldrush Lucky 4 Half-Time Draw v Burnley: 2 - 5 - 9 - 17.
