Wolves 1 (Olofinjana 45)
Watford 2 (Stewart 87, King-pen 90)
Watford ruined the Molineux party with two late goals to take the three points after Wolves had looked to start the new campaign in a winning fashion.
Before kick-off Sir Jack Hayward introduced the club's new owner Steve Morgan to a noisy and appreciative Molineux crowd who then, along with the Watford fans, paid homage to the late Derek Dougan with a minute's applause.
The game started in a brisk fashion with both sides looking lively going forwards although neither could muster an on target effort.
With eight minutes gone Tamas Priskin beat the offside trap on the right but the Slovakian drilled a low shot across the face of goal with the ball eventually going out for a throw in on the far side.
Michael Kightly's free-kick drifted wide after Darren Potter had been fouled by former Molineux youth graduate Gavin Mahon, and Marlon King volleyed high over the bar after a first time connection with Jobi McAnuff's cross.
A spell of Watford pressure forced Wolves onto the backfoot and after Darren Ward had headed clear a Jordan Stewart free-kick, two successive corners from the visitors quickly followed with Wayne Hennessey confidently claiming the second at full stretch.
Wolves broke from defence and Mart Poom used his experience to take a cross from Potter as Stephen Elliott challenged.
In the 29th minute Elliott's chip just lacked the height to beat Poom after Andy Keogh had carved out the opening.
There was a moment of danger for Wolves after Potter had fouled King just two yards to the side of the home area but Lee Williamson's free-kick was nodded clear from a crowded six-yard box.
Keogh fired over from the 18-yard line after a pass from Kightly had fallen to him, and then Seyi Olofinjana, with a first time shot, cleared the bar with Keogh this time supplying the centre.
But the Nigerian wasn't to be outdone and he opened the scoring as the first half moved into stoppage time.
Darren Ward pumped a ball up from defence and Keogh helped it on to Elliott whose pass fell for Olofinjana to coolly flick the ball over the advancing Poom.
Half-Time: Wolves 1 Watford 0
Shortly after the resumption Elliott volleyed high and wide and then Keogh drove over the bar with a first time effort.
Good defensive work saw Neill Collins dispossessing McAnuff as he ran into the Wolves box, and Stephen Ward shot over after he had run onto a Keogh pass at the other end.
Midway through the half King and Tommy Smith combined to set up McAnuff in the left of the home area. The Watford man looked certain to equalise but Hennessey made a superb diving save.
Gary Breen, who suffered a groin strain, was replaced by Rob Edwards and then Williamson was booked for a foul on Kightly.
Jay Bothroyd, on as a substitute for Elliott, ended a 30 yard run with a low shot that tested Poom who saved at full length, before the Hornets drew level with just three minutes remaining.
Potter fouled Williamson 25 yards out and Stewart's free-kick hit Bothroyd in the wall and flew past Hennessey.
There were four minutes of additional time and ten seconds from the end of it, Collins clattered into Watford substitute Steve Kabba right in front of the referee who pointed straight at the spot. King made no mistake with the penalty, lashing the ball high into the net.
In the seconds that remained the woodwork came to Watford's rescue. Bothroyd's pass found Olofinjana and his shot was deflected onto the post by Poom who then gratefully clung onto the rebound.
Wolves: Hennessey, N. Collins, Gray, Olofinjana, Breen (Edwards 69), D. Ward, Kightly, Potter, Keogh, Elliott (Bothroyd 74), S. Ward.
Unused subs: Henry, Eastwood, Stack.
Watford: Poom, Stewart, Shittu, Demerit, Mahon (capt), King, McAnuff, Doyley, Williamson, Priskin (Henderson 48), Smith (Kabba 81).
Unused subs: Lee, Bangura, Mariappa.
Booking: Williamson (77 - foul)
Referee: N. Swarbrick.
Attendance: 23,115.
Goldrush Lucky 4 Half-Time Draw v Watford: 6 - 12 - 14 - 15
