Royal baby could cost bookmakers £500,000 if Duchess and Duke of Cambridge welcome a princess and name them this

The second child of the couple is set to be born this month

The exact details of the second royal baby are not known.

So far, those bothered about such things are only sure that the newest member of the monarchy will be born between the 15-30 April, thanks to some illuminating parking signs that have already been positioned to mark off the “special event” outside the Lindo Wing of St Mary’s Hospital in London.

They also know that the royal purse strings will be a little slacker, thanks to the 10 per cent loyalty discount the Duchess has been given for choosing the same hospital as she gave birth to heir to the throne Prince George in.

New parking restrictions have been put in place in fornt of the Lindo Wing of St Mary's Hospital in Paddington west London, where the Duchess of Cambridge is due to give birth (John Stillwell/PA Wire)

There is, however, no assured due date (royal sources indicate 25 April is the nearest we’ll get) and no information about gender.

But if the betting public were to correctly guess that the infant monarch will not only be a girl, born between Tuesday 21 April and Monday 27 April, but will also be called Alice, they could be set to earn themselves a tidy sum of £500,000. Odds on Princess Alice are currently at 5/4, followed by Elizabeth and Charlotte at 6/1, the Telegraph reports.

“Punters have gone royal baby betting mad and we have already taken tens of thousands of bets across the nation,” Coral spokesperson Nicola McGeady said.

Popular boys names include Albert, Arthur, Charles, and Frederick, among others.