Walsall turned on the style after being boosted by Carlisle's early penalty miss. The Cumbrians, who sank to their third successive defeat, began the game well and, when Danny Carlton was brought down by keeper Clayton Ince just inside the box, highly-rated striker Danny Graham stepped up to take the spot-kick.
But Ince redeemed himself by making a fine low save to his right and for most of the time thereafter Walsall were the more effective side. Both keepers were called into action, with Carlisle's Ben Williams saving from Alex Nicholls at the expense of a 28th minute corner and Chris Palmer hit the post direct from the flag-kick.
Three minutes later, Ince parried away a free-kick by Simon Hackney and on the follow up a powerful volley from Carlton was well saved by the Walsall custodian. Walsall's pressure was rewarded in the 45th minute when their player of the match Nicholls sent over a low cross from which Dwayne Mattis scored with a stooping header.
Walsall continued to be the better side in the second half, although both teams played their part in a pulsating match. The impressive Jabo Ibehre should have put Walsall further in front in the 48th minute, but shot straight across the face of goal following a good touch by Michael Ricketts.
In the 64th minute, Ibehre failed to connect from a cross by Nicholls, but seconds later the striker matched his third goal of the season with the provider once again being the lively Nicholls. Ince made a great save from substitute Jennison Myrie-Williams as Carlisle made a quick break in the 72nd minute and seven minutes later another substitute, Michael Bridges, let fly with a volley which went just wide.
Carlisle had a lifeline in the 83rd minute when they were awarded a second penalty after Mattis had brought down Myrie-Williams just inside the box. This time the impressive Marc Bridge-Wilkinson made no mistake from the spot, but Walsall maintained the ascendancy to record their third successive victory.