The former Leicester and Hull boss is priced at just 9/2 to be the first managerial casualty of the new season at Championship level.
Next closest in the odds issued by Bet 365 is Hull City's Phil Brown at 13/2.
Taylor's position has been considered under threat since almost his first day in the job, mainly because of chairman Simon Jordan's reputation for having an itchy trigger finger.
But although last season's 12th placed finish was nowhere near what was expected of the club at the start of the campaign, Jordan seems happy enough with his manager.
"I thought with Peter he'd maybe take a little longer than had been anticipated - which was getting us back up straight away - and hopefully he will succeed next time around," Jordan said during the close season.
"At the end of the season we played a lot of good games. It was not necessarily the most important time to show form like that, when you're basically playing for nothing, but we showed we had a team that can play.
"The most important thing was to get a bit of consistency and by the end of the season we seemed to be doing that."