Bury caretaker manager Richie Barker admitted his side had experienced a reality check as Wycombe dealt a severe blow to their title ambitions.
The Shakers, who secured promotion to League One on Easter Monday, could have moved to the League Two summit ahead of Chesterfield on goal difference with victory.
However, they are now second-favourites for the crown going into the final day after Gareth Ainsworth's header and a second-half brace from Ben Strevens cancelled out Ryan Lowe's 10th-minute penalty.
Barker said: "It's hard because it's not what I wanted and I'm sure it's not what the fans or the players wanted.
`"Sometimes we just have to take stock and step back a little bit. We've come a long way in a short period of time but it's a bit of a rubbish end.
`"It's important we go about the final game in the right way. If we don't do that we'll kick ourselves.
`"There's a lot of disappointment there at the moment but it's not the end quite yet."