Nevada State Journal critic Pat O'Driscoll found "Wheels of Fortune" to be generally in the typical Doobie Brothers' style, with "layers of strumming rhythm guitars", but that it also incorporated jazz elements.

[2] J. Greg Robertson of the Hartford Courant similarly found the song to be in the Doobie Brothers' traditional style, with "fast tempo, multiple drumming, standard guitar riffs and group vocals.

[9] Billboard rated "Wheels of Fortune as a "worthy follow-up to 'Taking It To The Streets,'" describing it as combining "funky instrumental tracks and country-rockish vocalizing into a stunning sound.

"[1] Los Angeles Times critic Steve Pond found that although it incorporates new elements for the band such as the Steely Dan influences, it was "every bit as appealing as the early hits the Doobies once seemed content to merely rewrite.

"[10] Despite its lack of chart success, Brian Kay of Classic Rock History rated "Wheels of Fortune" as the Doobie Brothers all-time greatest song, praising its composition, production values and performance.