The long-term PFA chief executive has received the full support of the players' union after reports emerged claiming he had amassed a personal debt of more than £100,000 to a bookmaker.
In 2010 Taylor called for a "zero-tolerance" stance to tackle betting problems among players.
The 68-year-old has been unable to comment due to legal concerns but Barnes denies that the PFA chief has been hypocritical.
Speaking to Victoria Derbyshire on BBC Radio 5 Live, the former West Ham player said: "I think it's been well known that Gordon is someone who likes a bet occasionally.
"I think what Gordon has been pointing out is that, particularly for a footballer where the perception might be that for one reason or another it was undesirable to place bets, it is safer for that player not to bet altogether.
"He's never gone out in public and said people shouldn't gamble because that certainly would be hypocritical, but Gordon has never done that."
Barnes has no doubt that Taylor will remain in the position he has held since 1981 despite the recent criticism he has endured.
He added: "Gordon Taylor has done a tremendous job for football and footballers over the last 30 years in this country.
"I think it's difficult sometimes when you focus on negative aspects, and I understand that because it is a high-profile industry, but at the same time there are so many things I can talk to you about what we as a union and Gordon Taylor as the leader have done to the benefit of players in this country.
"I could give you a list of players who would never have a word said against Gordon Taylor and I have to tell you that in this current media storm we've been overwhelmed by all the messages of support we've had from all sections of football and indeed from all sections of society."
Fifty-year-old Barnes could not comment on the six-figure sum Taylor is reported to have lost gambling on football but stressed the chief executive was not "experiencing any financial difficulties".
"I can't comment on that because I think that forms part and parcel of the legal battle that will ensue in the future," he added.
"What I can say is that Gordon is not in a position where he is experiencing any financial difficulties or problems.
"People talk about gambling debts but it's important to keep it in context. Gordon is a very high-profile individual and like a lot of people he will have a bet occasionally.
"Betting is part of society and very much part of football but if you were to say to me 'does he have a problem?' then I would say 'I don't think he does have a problem'."