Hello Prince George Alexander Louis of Cambridge! Kate and William Reveal Royal Baby’s Name

The Duke and the Duchess of Cambridge named their little son as George Alexander Louis

"The Duke and Duchess of Cambridge are delighted to announce that they have named their son George Alexander Louis. The baby will be known as His Royal Highness Prince George of Cambridge," Kensington Palace said in a statement.

The two-day-old Prince George is third in succession line to the British throne. The name 'George' was a favorite among the British Bookmakers with the odds of 2/1. "The punters were right all along. They've taken us to the cleaners," online betting site Ladbrokes' spokesman told The Mirror.

On a similar note, another online betting website William Hill spokesman Joe Crilly said that George has been an "incredibly popular." "Yes, George has been incredibly popular with our punters in the last 24 to 48 hours but the pregnancy has lasted a lot longer than that and up until Monday the majority of the betting was for a girl."

Since the baby was born on Monday William Hill has taken 3,400 bets on the name George with 25 of those being three figure punts - the biggest was a £500 wager at 2/1 on Tuesday, reported Huffington Post.

During their first appearance since Prince George's birth, father Prince William said that they have to decide on the baby name. When asked whether it would be George, the beaming dad laughed and said "wait and see."

There were six King Georges since the German-born George I who was the first Hanoverian king of Great Britain to ascend to the throne in 1714. The last King George was Queen Elizabeth's father who was known as Bertie and died in 1952.

The middle name, Alexander, of the Prince of Cambridge has ties with three medieval Scottish kings. The last name Louis, reportedly, is Lord Louis Mountbatten, the Duke of Edinburgh's uncle and the last British Viceroy of India before independence in 1947, reported Huffington Post. It further said that Prince William's father Prince Charles shared a close bond with Mountbatten and the royal called him as 'Uncle Dickie.' He was assassinated in August 1979 by the IRA.