Bets are on for name of Kate and William’s third child

The news is only a few hours old and already bets are on for the name of the third royal baby.

The Duke and Duchess of Cambridge have announced they’re expecting another sibling for Prince George and Princess Charlotte.

“The Queen and members of both families are delighted with the news,” Kensington Palace said in a statement on Monday night.

UK bookies Coral opened the betting with the name Alice receiving odds of 7-1 if the royal bub is a girl, with Victoria, Mary, Grace and Alexandra also making the list.

For boys, Arthur is in top spot for all the major betting agencies, followed by James, Henry, Philip and Albert.

Diana has odds of 14/1 on William Hill and Coral and 16/1 on Paddy Power.

The worst odds are 500/1 for Wayne.

Kate is less than 12 weeks pregnant, with Kensington Palace making the announcement early after the Duchess had to pull out of a public engagement on Monday due to severe morning sickness.