Chasetown started well and Will Whieldon and Danny Cocks both had efforts on the visitors goal.
Wisbech forced a save from debutant goalkeeper Ben Johnson and then Tiago Nassunculo struck the top of the Chasetown crossbar.
Just before the half time interval Whieldon struck the base of the Wisbech post and Joe Berks follow up effort was blocked by a defender on the line.
The Scholars were on the front foot at the start of the second half and Berks immediately forced a finger tip save from Muhammed Otuyo.
Chasetown had a Whieldon curling free kick punched away by Otuyo and Wisbech broke quickly and found Nassunculo who kept advancing and fired beyond Johnson totally against the run of play.
Midway through the half, Cocks was sent tumbling inside the box and despatched the penalty himself to level the scores.
Chasetown almost took the lead within two minutes. Liam Kirton spotted the keeper off his line and lobbed the ball just wide from long distance.
Otuyo then denied Kirton with another fingertip save over the bar as the hosts looked for a much needed winner.