Nuno Espirito Santo's side's six-season exile from the top flight was confirmed on Saturday following Fulham's failure to beat Brentford and they celebrated in style by swatting aside their Midlands rivals.
For those ambitious punters who think Wolves could "do a Leicester City" and win the English Premier League title, the Molineux-based club can be backed at whopping odds of 500/1 which should be noted is significantly less than Burnley.
Nuno's team have occupied top spot in the Championship since October and achieved promotion with four games to spare.
Wolves players watched the game on television and were filmed anxiously watching the closing seconds before embracing in celebrations.
Wolves managing director Laurie Dalrymple hailed the influence of manager Santo, the boss who arrived last summer after a spell in charge of Porto and has led the promotion push. We've recruited well and he's galvanized the group really strongly in a very short space of time. Attention will now turn to clinching the title, with Wolves nine points ahead of second-place Cardiff.
"What he has brought in has been fantastic", Dalrymple told Sky Sports.
The leaders have taken the division by storm this season although their promotion is not without controversy following their tie-up with Portuguese super-agent Jorge Mendes. He also has a long association with Wolves owner Fosun International, which holds a stake in his company, and he advised it on the purchase of the club.