The Cherries and Eagles now sit in 14th and 11th position in the standings respectively, but Bournemouth can only move ahead of Palace if they win by a five-goal margin.
Match preview
Having been appointed as the club's boss on a permanent basis during the World Cup break, Gary O'Neil would have wanted to retain the feel-good factor at Bournemouth in their opening two competitive fixtures back in action.
However, an exit from the EFL Cup at the hands of Newcastle United was followed by a 2-0 defeat to Chelsea on Tuesday, halting any momentum that had been built in November.
Before the start of the season, Bournemouth would have happily accepted any position outside of the relegation zone at the turn of the year, and being three points above safety at this stage should be deemed as a success.
Nevertheless, the South-coast outfit have now lost five of their last six fixtures in the Premier League and sit just four points above bottom-placed Southampton.
With top-flight trips to Manchester United and Brentford to follow this game, O'Neil is aware of the importance of getting back on track on the final day of the year.
The same can be said of Palace to a certain degree with Patrick Vieira's side having experienced disappointment in their last three fixtures in all competitions.
After losing on penalties to Newcastle United in the EFL Cup, defeats to Nottingham Forest and Fulham have come in the league, the latter being suffered with nine men.
Palace were already a goal behind when Tyrick Mitchell was deservedly sent off, but a harsh second yellow card dished out to James Tomkins with 33 minutes remaining effectively ended the game as a contest.
Fulham subsequently prevailed 3-0, moving three points clear of Palace in the process and ending their opponents' run of three successive triumphs at Selhurst Park.
While Palace are as close to the relegation zone as they are to the top six at this stage, Vieira will recognise that his side can ill-afford another defeat ahead of a quartet of league fixtures versus Tottenham Hotspur, Chelsea, Newcastle United and Manchester United.
Bournemouth Premier League form:
L
L
L
L
W
L
Bournemouth form (all competitions):
L
L
W
W
L
L
Crystal Palace Premier League form:
W
L
W
W
L
L
Crystal Palace form (all competitions):
L
D
D
L
W
L
Team News
O'Neil will likely switch back to a defensive four after the failed experiment with a five versus Chelsea, and that will likely see Bournemouth full-back Jack Stacey drop out of the side.
With one of Dominic Solanke or Kieffer Moore also in line to be named as a substitute, Ryan Christie and Jaidon Anthony could be used on the flanks.
The likes of Neto, Ryan Fredericks, Junior Stanislas, Marcus Tavernier and David Brooks are all expected to remain sidelined.
Meanwhile, Palace will be forced into two changes with Mitchell and Tomkins serving their respective three-match and one-match bans, but Marc Guehi is available again after a suspension of his own to replace the latter.
Joel Ward is in line to deputise for Mitchell, and alterations could be made further forward with Odsonne Edouard pushing to return down the middle of the attack.
Bournemouth possible starting lineup:
Travers; Smith, Senesi, Kelly, Zemura; Cook, Lerma, Billing; Christie, Solanke, Anthony
Crystal Palace possible starting lineup:
Guaita; Clyne, Anderson, Guehi, Ward; Olise, Doucoure, Schlupp; Eze, Edouard, Zaha
We say: Bournemouth 1-1 Crystal Palace
On the back of suffering defeats earlier this week, avoiding another has become increasingly important. With that in mind, do not be surprised to see a competitive draw play out on the South coast, one which may suit both clubs at this stage.