Bookies are taking bets on the new royal baby name

Bookies in the United Kingdom are already taking bets on the name of the next Prince or Princess of Cambridge.  

Prince William and Kate Middleton's baby is not due until April and the sex has not been revealed, but there's already a favourite when it comes to the baby's name.

Ladbrokes Betting Agency employee Jessica Bridge said the royal family "regurgitate the same names every few generations so it's very hard to see a Princess Chardonnay or a Prince Wayne."

The favourite name is Alice, paying £7 (NZ$13), while the runner-up is Albert, paying £13 (NZ$25).

There is speculation that the baby will be a girl, but the source of the rumours is unclear.

Bets are even being taken on how much the baby will weigh, with the favourite being three kilograms.

Ahead of the wedding of Prince Harry and Meghan Markle, bets are also being taken on whether the prince will shave his beard, whether the Obamas will attend, and whether Sir Elton John will sing.

Bets are also being taken on who will design Ms Markle's wedding dress.

Newshub.