Ladbrokes took 50,000 bets in the hours after the Duchess of Cambridge went into labour this morning. Company spokesman Alex Donohue said the public has rushed to put small amounts of money, such as a pound, on the soon-to-be-born-royal infant's name because they "want to be involved."
"Never underestimate the British public's obsession with the royal family," he said. "This is such a big story. And besides, it's summer. The weather is good."
Betting agency Coral described it as the biggest non-sporting betting event in the company's history, with gamblers racing to wager on everything about the new heir to the throne.
"The whole world has been waiting for Kate to go into labour and now that she has, we have witnessed another betting frenzy," said Nicola McGeady, spokeswoman for the firm.
"Punters (bettors) have been anxiously clutching onto their betting slips for months now and if the money talks, the baby will be called Alexandra, with brown hair, weighing 7 pounds to 7 pounds, 15 ounces, an outcome which will prove a nightmare result for the bookies", because of the amount of money they will have to pay out.
The public may have to wait, though, to cash in their betting slips. It is not uncommon for royals to take their time naming babies -- Queen Elizabeth II and her husband Prince Philip waited for a month in the case of Prince Charles.