A packed Sky Dome saw Matza give The Devils the lead on 2.15 when he scored from point blank range assisted by Weller.
On 10.25, Coventry were level thanks to Owen Fussey breaking on his own and faking a shot before rounding Lyle. Fussey tripped but was still to ram the puck into the net.
The Blaze had ten shots on goal to Cardiff's twelve in the second period but it was still 1-1 going into the third.
The deadlock was broken by a powerplay goal from Pelle on 48.24 with assists from Matzka & Weller. However, parity was restored six minutes later, when Owen Fussey got his second of the night, assisted by Owen and Robinson.
With no more goals, it was over-time. That failed to break the deadlock and so it went to penalties.
Matza put the first one wide, with the Blaze's Owen Fussey having his saved. Pelle scored as did Greg Owen and then Birbraer scored, leaving Luke Fulghum needing to score to keep the Blaze in the match. He missed and Cardiff won 3-2.
Monday night sees The Blaze at Cardiff Devils before playing away at Sheffield Steelers on Thursday.