The West Ham manager was saddened by Bolton's demise to the second tier but did not feel the same way about the Ewood Park club due to the way he was treated before being replaced
Allardyce was sacked by Rovers in December 2010 shortly after Venky's had completed their takeover of the Ewood Park club.
Blackburn were sitting in 13th position in the league when the 57-year-old lost his job but went on to suffer relegation under his replacement, Steve Kean, last season.
"I have to say there wasn't much feeling when Blackburn were relegated because of the way they treated me," Allardyce told The People.
Allardyce admitted that it was a different story with regards to Bolton Wanderers, who he managed for seven years before a spell at Newcastle United.
The Trotters have struggled to retain their Premier League status since his departure and finally suffered demotion to the second tier under Owen Coyle last season.
"Bolton is a different story because I left them and I only did that because of their lack of ambition," he added.
"Everyone knows how much the club means to me and always will, so I was saddened by their relegation."