In his review for AllMusic, William Ruhlmann notes straight away, that "Money and Cigarettes marked several important turning points in Eric Clapton's recording career: It was his debut release on his own Duck imprint within Warner Bros.' Reprise Records subsidiary.
Rolling Stone critic David Fricke rates the album with 3.5 out of five possible stars and concludes: "Like most of Clapton's recent solo records, Money and Cigarettes makes no claim to greatness.