Arsenal will take on London rivals Palace at the Emirates Stadium in the Premier League on Sunday afternoon.
Owen believes that there will at most a single goal in the London derby.
“Sam Allardyce suggested it was a case of two points dropped at Vicarage Road after the Eagle’s 1-1 draw at Watford, in the former England manager’s first game in charge at Crystal Palace,” Owen wrote on Betvictor.com.
“Things don’t get much easier for the Eagles with a trip to the Emirates, but I expect this Palace side to be more organised than in recent times and I don’t expect to see many goals in this London derby.”
A footnote added: “Michael’s recommendation: Under 1.5 goals at 17/4.”
Arsenal will head into the London derby against Palace as favourites and will fancy their chances of picking up all three points from the encounter.
Arsene Wenger’s side won 1-0 against West Bromwich Albion at the Emirates Stadium in the Premier League on Boxing Day.
The Gunners suffered back-to-back defeats to Everton and Manchester City away from home in December.
Palace are struggling for survival in the Premier League at the moment and are in danger of getting relegated to the Championship at the end of the 2016-17 campaign.
The Eagles will head into the match against Arsenal on the back of a 1-1 draw with Watford away from home at Vicarage Road in the league.