After Georgia Tech's Tadric Jackson cut the Yellow Jackets' deficit to 69-68, Carlino made two free throws for a three-point lead. On the ensuing Georgia Tech possession, Marcus Georges-Hunt scored on a layup with 2 seconds to play, which only got the Yellow Jackets (3-1) within 71-70.
Marquette added one free late throw before a last-chance full-court Georgia Tech shot fell well short at the buzzer.
Carlino's long-range jumper put Marquette (3-2) ahead 41-37 6 minutes into the second half. Another 3-pointer by the guard and Duane Wilson's two free throws made it 58-49 with 6:40 left.
Marquette's Juan Anderson finished with 12 points. Carlino went 8 for 18 from the field and made 14 of 16 free throws.
Jackson had 17 points and Georges-Hunt added 14 for Georgia Tech, which was looking for its first 4-0 start since 2008-09.
Georgia Tech trailed most of the opening half, but took a 28-27 lead when Chris Bolden hit a 3 with 2 minutes left. Josh Heath's final-minute basket gave the Yellow Jackets a 31-29 halftime advantage.
Carlino had 15 first-half points, on 5-of-10 shooting.
Marquette: This was the first meeting between the teams since a Golden Eagles' 63-45 victory on Jan. 3, 1977, the season that Marquette won the national championship. ... Guard Derrick Wilson, battling a leg injury, started. He had seven points and five assists.
Georgia Tech: The Yellow Jackets haven't won an early-season tournament since winning the 2003 Pre-Season NIT. ... Guard Travis Jorgenson, bothered by soreness in surgically-repaired right knee recently, was in the starting lineup and had no points and one assist in 14 minutes.
Georgia Tech and Rider will meet Friday night in the consolation round.