royal baby, Kate Middleton, Kensington Palace, Prince William, Royal Birth

After weeks of speculation, Kate Middleton has finally given birth to a baby girl! Now all bets are on as to what the duke and duchess of Cambridge will name their little princess – literally.

According to gaming website Ladbrokes, Victoria and Elizabeth were rather popular over the weekend, however Alice and Charlotte have surfaced as the firm favourites among punters. In case you’re wondering where the names come from, Alice was the name of one of Queen Victoria’s daughters and also the mother of the baby’s great-grandfather, while Charlotte is said to be a feminine form of Charles, which would be an ode to Prince Charles – the child’s grandfather. So many generations of names to consider!

Of course, Diana is the sentimental favourite, however some people are royally opposed to naming the new princess after her late grandmother. “Should her name be bestowed as a first name upon the baby, it would be perceived as a slap in the face to the monarchy,” wrote Victoria Arbiter – the Royal commentator for CNN. On that note, we call Diana for the middle name – seems only fitting, right?

It’s not just the name that everyone is speculating over, either, with some betting agencies even going as far as to offer odds on the colour of her hair. Just in case you were wondering, William Hill is offering 6:4 brown, 2:1 blonde, 5:2 black, and 8:1 ginger.

In the meantime, as we all eagerly anticipate and await what the name of the first princess born into the British monarchy in 25 years will be, mother and daughter are happy and healthy. “Her Royal Highness and her child are both doing well,” said Kensington Palace in a statement.

The Royal family are now home spending time together.

Image via ABC News