The Greek's winning goal cancelled out two Pescara penalties, seeing Bologna move five points clear of the relegation zone, with Pescara falling into it.
Pescara's dangerman Vladimír Weiss had the first effort of the match after six minutes, with the former Manchester City forward's snapshot from the edge of the box drilled past Gianluca Curci's post, after a knock-down from newly-signed striker Ferdinando Sforzini.
Despite the delfini having the early chance, Bologna had control over the game, and Saphir Taïder's long-range effort just inside the opening 20 minutes forced a spectacular diving save from shaggy-haired goalkeeper Mattia Perin, before his palms were stung again by Alessandro Diamanti.
The hosts were playing much more direct than their Bolognese opponents, with long balls up to the physical Sforzini their main attacking tactic, with them playing deep and disciplined without the ball. The result was more possession for the visitors, though they struggled to penetrate, resorting to long range efforts.
It was Pescara who surprisingly opened the scoring, after Mikael Antonsson tripped Weiss in the area. The Slovak stepped up to convert the penalty himself, though their lead didn't last long.
Four minutes later, the scores were level. Another penalty was the result of a trip by Damiano Zanon on Niccolò Cherubin. Set-piece specialist Diamanti was charged with doing the business, stepping up to slot the ball beyond Perin.
In a crazy turn of events, on the stroke of half time, Pescara were given -- yep, you guessed it -- another penalty. After a few tense, game show-style seconds of deliberation with the goalline official, the referee awarded the spot-kick, with this time Pescara new boy Gaetano D'Agostino converting for 2-1.
Bologna's control of the game in the first half was magnified even further in the second, as Pescara clung to their slim lead. Panagiotis Kone's long range effort just after the restart whistled over the bar, before the delfini striker Sforzini almost latched onto a through pass, though unfortunately he kicked Curci rather than the ball.
Five minutes after the restart, the amazing happened. A goal went in, that wasn't a penalty. It was nevertheless the result of a set piece, with Alberto Gilardino continuing his good form, flicking Diamanti's free-kick cross into the back of the net.
Minutes later, it seemed Gila had scored his second; a fine poachers goal after acrobatically striking a volley into the net. Unfortunately for the veteran, he was adjudged to be offside. Bologna didn't mind too much ten minutes later, when a mathematically-perfect cross from Archimede Morleo found a diving Kone ghosting in at the back post. He converted for 3-2, as Bologna took the lead for the first time.
The visitors looked entirely comfortable in their lead, and could have had a couple more before the final whistle. Kone fired wide from the edge of the area with ten minutes to go, before missing a sitter when through on goal in stoppage time. Pescara had no response, suffering their fourth consecutive defeat.
Pescara (4-3-3): Mattia Perin; Francesco Modesto, Uros Ćosić, Bianchi Arce, Damiano Zanon; Emanuele Cascione (Elvis Abbruscato 79), Gaetano D'Agostino (Birkir Bjarnason 70), Giuseppe Rizzo; Ante Vukušić (Mervan Celik 71), Ferdinando Sforzini, Vladimir Weiss
Bologna (3-4-2-1): Gianluca Curci; Niccolò Cherubin, Mikael Antonsson, Frederik Sørensen; Archimede Morleo, Saphir Taïder, Diego Pérez, Marco Motta (György Garics 76); Panagiotis Kone, Alessandro Diamanti (Davide Moscardelli 79); Alberto Gilardino (Cristian Pasquato 87)
Goals: Weiss pen 30 (P) Diamanti pen 34 (B) D'Agostino pen 45 (P) Gilardino 50 (B) Kone 66 (B)