Laudrup's men fell behind as Danny Graham came back to haunt his former club with a ninth-minute strike for Hull, ending a goal drought that dated back to his time at the Liberty Stadium.
Swansea levelled in controversial fashion in the second half as Chico Flores' goal was allowed to stand after he appeared to handle the ball.
The Welsh club could not build on the equaliser, though, and Laudrup felt a draw was a fair reflection of the game.
"First half we played and played and played but much too slow," the Dane told Sky Sports.
"Second half, we did much better, (we were) much quicker, and got the equaliser. We had a chance maybe before the second goal but I think after the first half we did not deserve to win this game.
"We knew it would be very difficult if we played too slow because they (Hull) played with 10 (behind the ball). It got even more difficult after they scored the goal. If you touch it two or three times every player then it becomes very difficult to open up a defence like this. Overall I think it is a fair result."
Referee Chris Foy refused to award a penalty to Hull following an apparent handball by Swansea's Dwight Tiendalli shortly after Flores' goal.
Newcastle were also denied a spot-kick after a similar incident in their defeat at Swansea on Wednesday, but Laudrup feels the decisions even out over time.
"I don't know (about suggestions of handball for Flores' goal). It's into his body so its not that he's using his hand to score," Laudrup added.
"There was another situation with a ball inside the box. Like I said after the Newcastle game its a 50/50. We've had a lot against us, now we've had two 50/50 balls in our favour."
