Betfair spokesperson Katie Baylis tells Yahoo Style UK: “Diana has been the big favourite since Meghan announced she was expecting and we’ve slashed the odds on the name to 3/1 in the last few days.
“Next is Grace at 8/1, while Arthur, James and Edward, all very traditional names are the 14/1 favourites if the child is a boy.”
So what’s in a name?
Diana would be a tribute to Harry’s mother who tragically died in a car accident in Paris in 1997. It’s also one of Princess Charlotte’s middle names.
Grace Kelly is the name of the former American actress, who became Princess of Monaco after marrying Prince Rainier III in April 1956. Like Meghan, she retired from acting to take up royal duties.
Victoria and Alice are also 14/1 favourites, if the couple have a girl. The Queen is a great-great granddaughter of Queen Victoria and Princess Alice was her second daughter. The Duke of Edinburgh’s mother was Princess Alice of Battenberg.
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If the royal baby is a boy, Arthur, James and Edward all have royal connotations.
Arthur is the name of the legendary, mythical king, derived from 5th century folklore. Prince William and his son Prince Louis also have Arthur as one of their middle names and Kate’s sister Pippa Middleton named it her firstborn.
King James has been the name of many monarchs throughout history, while Edward was the name of the Queen’s uncle and is also that of her youngest son.
Harry and Meghan may be less likely to choose Edward though, as he abdicated from the throne in 1936 so he could marry American divorcee Wallis Simpson.