Wallen wrote the song with Ryan Vojtesak, Ernest Keith Smith, and Josh Thompson.

In this acoustic set, he performed the song with his touring band: drummer Mark Annino, bassist Luke Rice, and guitarists Tyler Tomlinson and Dominic Frost.

[1] Owen Myers of Pitchfork stated that the song is "a blend of trap snares and guitar twang that isn't quite as fluid as the country/hip-hop hybrids of, say, [Sam] Hunt".

[2] Pip Ellwood-Hughes thought that the song had a "modern" sound, contrasting it with Wallen's collaboration with Diplo on "Heartless".

[3] "Wasted on You" debuted at number one on the Billboard Hot Country Songs chart dated the week ending January 23, 2021, alongside the album tracks "Somebody's Problem", "Warning", and "Sand in My Boots" and the singles "7 Summers" and "More Than My Hometown".