Substitute Dango Ouattara thought he had secured a 2-1 victory for the Cherries with a 93rd-minute strike but it was disallowed for handball – with the ball deemed to have come off his upper arm, rather than his shoulder, before going in.
“It’s the most frustrated I’ve been on a touchline,” said Iraola, who was booked for his protests.
“I went to talk to the referee but I think the referee cannot do much more. He gave the goal. [VAR] didn’t give him the chance to see it again.
“He heard me complain but it’s not against him. He cannot do much more. He’s not the one who made a mistake today.
“I understand the rule [and] they will try to make me think there is a part of reasoning there – but I completely don’t agree. It’s just common sense.
“Anyone who has played football and looks at the strength of the ball when it touches the back of the net knows that’s not handball, it’s a shoulder.”
Marcus Tavernier had given Bournemouth a deserved first-half lead when he turned in Antoine Semenyo’s cross.
Bournemouth’s club record signing Evanilson, who was making his debut, should have made the points safe in the second half but failed to get a touch to Semenyo’s dangerous cross.
Newcastle had been flat for large periods of the match but they improved in the closing stages and, after Neto kept out Joelinton’s header, Anthony Gordon got the equaliser when he prodded in Harvey Barnes’ cross at the far post.
It set up a tense finish as both sides chased a winner, Semenyo going closest with a deflected strike before Dan Burn’s header was superbly pushed away by Neto.
With seconds left, it was Bournemouth fans who were cheering but their celebrations were cut short when Ouattara’s effort was ruled out, leaving the Cherries still searching for a first win of the season.
“I thought the game was lost because I initially hadn’t seen anything wrong with the goal,” said Newcastle boss Eddie Howe.
“We have had it both ways. We have had it for us and against us and we are very grateful for that moment because we have battled hard.
“What we had at that stage of the game was a valuable point. But I understand that it is a contentious decision.”