14/08/2014 12:48 BST | Updated 22/05/2015 06:12 BST

Odds Slashed On Royal Baby Being Called...Can You Guess?

Odds slashed on Royal baby being called...can you guess?

There is a reason why we have a popular image of bookies driving big fancy cars and smoking even bigger cigars – it's because they usually know a thing or two.

So what's the betting on the fact that they know more than we mere mortals about what the name of Kate and William's baby will be?

Speculation is so rife that a name has already been chosen that odds have been slashed from 10/1 to 2/1 on the Duke and Duchess of Cambridge's newborn being called....(drumroll)....Alexandra.

Bets on the lovely name have seen a frenzied rise in the past 24 hours, with the odds now slashed from 10/1 to 2/1.

The activity has fuelled speculation that there has been a leak from the Royal camp, though we find that hard to believe given the media firestorm that followed Kate even uttering the letter 'D' when she was given a teddy bear by a well-wisher in Grimsby last month.

Since then, the odds on pregnant Kate having a baby girl have been slashed to 1/3 – with the chance of a boy currently at 5/2.

And if these rumours are to be believed, the Duke and Duchess of Cambridge are taking baby name inspiration from the Queen, whose full name is Elizabeth Alexandra Mary Windsor. Which means Prince William could be naming a daughter after his grandmother.

The only current member of the royal family with the name is Prince Michael of Kent's sister, Princess Alexandra.

"The gamble on Alexandra has come from nowhere and we've been forced to slash the odds accordingly," said Jessica Bridge of Ladbrokes.

"It looks like we might have another royal leak on our hands."

See below for our suggestions for regal girls' names and why.