Although experimental and theoretical studies have addressed the question of the wetting properties of graphene, the actual value of the contact angle of water on an isolated graphene monolayer remains unknown. While recent experimental literature indicates that the contact angle of water on graphite is in the range 90-95 degrees, it has been suggested that the contact angle on graphene may either be as high as 127 degrees or moderately enhanced in comparison with graphite. With the support of classical molecular dynamics simulations using empirical force-fields, we develop an argumentation to show that the value of 127 degrees is an unrealistic estimate and that a value of the order of 95-100 degrees should be expected. Our study establishes a connection between the variation of the work of adhesion of water on graphene-based surfaces and the interaction potential between individual water molecules and these surfaces. We show that a variation of the contact angle from 90 degrees on graphite to 127 degrees on graphene would imply that both of the first two carbon layers of graphite contribute approximately the same interaction energy with water. Such a situation is incompatible with the short-range nature of the interaction between water and this substrate. We also show that the interaction potential energy between water and the graphene-based substrates is the main contribution to the work of adhesion of water with a relative magnitude that is independent of the number of graphene layers. We introduce the idea that the remaining contribution is entropic in nature and is connected to the fluctuations in the water-substrate interaction energy.