Kate Middleton Latest News: Due Date Looming; Baby No. 2's Possible Names Here

While waiting for the birth of their second child, Kate Middleton and Prince William may start to feel the pressure of naming the coming baby - even more so when everyone has an opinion about it.

NY Post reports that betting sites have placed their odds on the baby being named Alice, with an odd of 7-to-4 among gamblers. The traditional English name Elizabeth is in second place while Charlotte and Victoria round up the top four picks. However, if the royal couple will have another boy, the most popular name among bettors is Arthur, with a 14-to-1 odds. Phillip and Albert trail the list.

According to E! Online, Alice is emerging as the biggest favorite for its royal history. Queen Victoria's second daughter is named Alice, the Princess of Hesse, while Prince William's great grandmother is Princess Alice of Batteburg. She is the mother-in-law of Queen Elizabeth.

In the same E! Online report, the name James has emerged as a top favorite for boys' names with odds at 16-to-1, but notes that the economy of Britain will stand to gain a substantial profit if it turns out that royal baby number 2 would be a girl.

If "Princess Alice" is born, her worth is pegged at $1.5 billion to the British economy, as retail experts have already predicted a boost in sales of souvenirs. The effect of this is supposed to be long term because as the princess grows up, her fashion choices will also be followed by the public, thereby boosting its industry.

"A princess would be able to set trends throughout her life, which will be great for the people who designed her clothes or for those who can make quick knock-off copies," said Joshua Bamfield, a professor at the Centre for Retail Research in a report from The Telegraph. When Prince George was born in July 2013, he brought in $372 million to the economy, according to the same Telegraph story.

Meanwhile, other sites have also come up with their list of baby names for the Duchess and Duke of Cambridge, such as Disneybaby, with 45 suggestions. Perhaps what's also on everyone's mind is for the baby to be named Diana, after Prince William's mother. It would be a fitting tribute, especially since the deceased princess was well-loved by the British public.

However, Joe Little, the managing editor of Majesty Magazine, said that naming the baby Diana could put so much pressure. "It would have all sorts of associated baggage [as a first name]," said Little in a report by People Magazine.

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