| Match | Date | Opponent | Venue | Result | Attendance | Scorers |
|---|
| 1 | 12 August 1972 | Northampton Town | H | 1–0 | 4,303 | Wignall |
| 2 | 19 August 1972 | Doncaster Rovers | A | 1–0 | 3,540 | Fairbrother |
| 3 | 26 August 1972 | Exeter City | H | 3–0 | 4,172 | Ellis (2),McCaffrey |
| 4 | 30 August 1972 | Cambridge United | H | 3–1 | 5,216 | Walker,Fairbrother,Longhorn |
| 5 | 2 September 1972 | Newport County | A | 1–0 | 4,833 | Fairbrother |
| 6 | 9 September 1972 | Bury | H | 1–1 | 4,836 | Fairbrother |
| 7 | 16 September 1972 | Aldershot | A | 1–0 | 4,808 | Thompson |
| 8 | 18 September 1972 | Gillingham | H | 2–0 | 5,399 | Fairbrother,Wignall |
| 9 | 23 September 1972 | Barnsley | H | 3–1 | 5,997 | Fairbrother (2),McCaffrey |
| 10 | 25 September 1972 | Stockport County | A | 1–2 | 4,543 | Thompson |
| 11 | 30 September 1972 | Darlington | A | 3–2 | 1,604 | Fairbrother,Longhorn,Wignall |
| 12 | 7 October 1972 | Southport | H | 3–3 | 7,312 | Fairbrother,Bentley,Wignall |
| 13 | 9 October 1972 | Peterborough United | H | 4–2 | 5,379 | Fairbrother (3),Walker |
| 14 | 14 October 1972 | Bradford City | A | 1–1 | 3,383 | Roberts |
| 15 | 21 October 1972 | Chester | H | 4–1 | 5,787 | Fairbrother (2),Laverick,McCaffrey |
| 16 | 25 October 1972 | Hereford United | A | 1–3 | 10,092 | Wignall |
| 17 | 28 October 1972 | Colchester United | A | 1–1 | 3,842 | Ellis |
| 18 | 4 November 1972 | Stockport County | H | 1–0 | 5,114 | Walker |
| 19 | 11 November 1972 | Gillingham | A | 1–2 | 2,766 | Bird |
| 20 | 25 November 1972 | Lincoln City | A | 1–1 | 6,657 | Fairbrother |
| 21 | 2 December 1972 | Reading | H | 1–1 | 4,505 | Cottam |
| 22 | 9 December 1972 | Workington | A | 0–2 | 1,234 | |
| 23 | 16 December 1972 | Crewe Alexandra | A | 4–0 | 2,439 | Roberts,Thompson,Ellis,Fairbrother |
| 24 | 23 December 1972 | Hartlepool | H | 2–0 | 4,208 | Fairbrother,McCaffrey |
| 25 | 26 December 1972 | Barnsley | A | 1–1 | 5,900 | Matthews |
| 26 | 30 December 1972 | Doncaster Rovers | H | 0–0 | 5,187 | |
| 27 | 6 January 1972 | Exeter City | A | 2–4 | 6,744 | Thompson,Fairbrother |
| 28 | 13 January 1972 | Hereford United | H | 1–1 | 5,530 | Ellis |
| 29 | 27 January 1972 | Bury | A | 0–1 | 3,068 | |
| 30 | 3 February 1972 | Peterborough United | A | 0–1 | 7,224 | |
| 31 | 10 February 1972 | Aldershot | H | 2–0 | 4,289 | Wignall,Bird |
| 32 | 16 February 1972 | Northampton Town | A | 0–1 | 2,288 | |
| 33 | 24 February 1972 | Crewe Alexandra | H | 5–1 | 3,665 | Ellis,Fairbrother,Wignall,McKenzie,Thompson |
| 34 | 2 March 1972 | Southport | A | 1–3 | 5,656 | McKenzie |
| 35 | 5 March 1972 | Workington | H | 4–0 | 4,548 | McKenzie (2),Thompson,Geidmintis (o.g.) |
| 36 | 10 March 1972 | Bradford City | H | 4–1 | 5,300 | McKenzie (3),Fairbrother |
| 37 | 17 March 1972 | Chester | A | 2–2 | 2,114 | Laverick,Matthewson (o.g.) |
| 38 | 21 March 1972 | Torquay United | A | 1–1 | 2,704 | Roberts |
| 39 | 24 March 1972 | Colchester United | H | 1–1 | 4,666 | Ellis |
| 40 | 26 March 1972 | Newport County | H | 0–0 | 6,402 | |
| 41 | 31 March 1972 | Lincoln City | H | 0–2 | 5,277 | |
| 42 | 7 April 1972 | Reading | A | 0–2 | 7,102 | |
| 43 | 14 April 1972 | Torquay United | H | 2–1 | 3,451 | Roberts,McCaffrey |
| 44 | 20 April 1972 | Hartlepool | A | 1–1 | 2,855 | Thompson |
| 45 | 24 April 1972 | Darlington | H | 5–0 | 5,131 | Roberts (3),Thompson,McCaffrey |
| 46 | 28 April 1972 | Cambridge United | A | 2–3 | 11,542 | Roberts,McCaffrey |