Omilabu was causing havoc down the left all game and managed to pick out second-half substitute Akinwale just moments later. His ball across the box in the third minute of stoppage time beat two Wolves defenders and found Akinwale who was there to finish from close range.
Wolves didn’t give up hope of finding a late equaliser, forcing Goodman into a reaction save deep into the six minutes of time added on. Skipper Joe Hodge found space inside the Palace box to get a shot away, but Goodman reacted well to get a strong hand to it and secure all three points for the Eagles as the final whistle blew.
The victory means Paddy McCarthy’s side remain unbeaten in the Premier League 2 Division 1, with three wins from the first four games.
Crystal Palace: Goodman, Addae, Balmer, Grehan, Watson (Akinwale, 87), Ozoh (Mooney, 65), Wells-Morrison, Omilabu, Phillips, Gordon, Street (Ola-Adebomi, 79).
Subs not used: Siddik, Shala.
Wolverhampton Wanderers: Arinbjornsson, Lembikisa, Bueno (Matheson, 86), Griffiths, Marques, Tipton, Birtwistle (Hubner, 80), Hodge, Fraser, Scicluna, Harkin (Roberts, 70).
Subs not used: Kandola, Hodnett.