Strong favourite emerges as Royal baby name betting reaches fever pitch in the UK

There is a clear front-runner amongst Royal baby name punters after the birth of Kate Middleton and Prince William's third child late yesterday.

Arthur is now a 2/1 favourite for the newborn baby boy, closely followed by Albert, James and Philip.

The odds firmed on Arthur after a mystery punter placed a whopping $10,000 bet on the name not long after the birth.

1 NEWS Europe Correspondent Joy Reid has the latest. Source: Breakfast

The public shouldn't have long to wait for the big reveal, with the names of Prince George and Princess Charlotte being made public no later than two days after they were born.

Here is the full list of what UK punters consider the most likely names with odds from Ladbrokes:

The Prime Minister said New Zealand will be sending several gifts to Prince William and Kate. Source: Breakfast

Arthur 2/1
James 4/1
Albert 6/1
Philip 8/1
Alexander 10/1
Thomas 16/1
Frederick 25/1
Henry 25/1