Taylor's one-time protege Adrian Lewis is the two-time defending champion of the tournament, although 'Jackpot' has endured a difficult year.
Taylor believes the pressure is firmly on the 27-year-old to perform at Alexandra Palace this year.
"I think he's under pressure, without a shadow of a doubt," Taylor said of Lewis.
"He's had a tough year. He's been beaten a few times, so that's going to be in the back of his mind.
"He's going to play well, but I think other people are playing well against him as well and beginning to beat him."
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