Royal baby: Gamblers bet on Prince George's sibling being called Psy, Chardonnay or Elvis

Bookmakers are taking 1000-1 bets on the Duke and Duchess of Cambridge opting for a more bizarre name

Royal well wishers wait outside the Lindo Wing of St Marys Hospital ahead of the royal birth (Getty Images)

Alice and Arthur may be the favourite royal baby names, but what if the Duke and Duchess of Cambridge were to opt for something more unusual when their second child arrives?

Some risky (others may say mad) gamblers could stand to win a lot of money at the bookmakers if their 1000-1 bets on names like Chardonnay, Elvis, Olympia and Luther come good.

The most tenuous royal baby PR campaigns out there

Yes, it’s highly unlikely, but not quite impossible that the blue-blooded little’un could be called Macbeth, Ringo, Valentine or Cristiano. Or how about Seychelles in tribute to the popular honeymoon islands, or Posh in honour of our favourite Spice Girl? Barack after the US president? There are actually people out there who have put their hard-earned cash on these outcomes, according to Oddschecker.

Even more bizarre choices are the "Gangnam Style" singer's name Psy, and North, chosen by Kanye West and Kim Kardashian, both at 5000-1.

But while an out-there bet may seem pointless, William and Kate would by no means be the first royals to give their new baby a rarer, more modern name.

Princess Anne chose Zara for her daughter, an Arabic name meaning Eastern splendour and, fittingly, princess, while her son Peter called the Queen’s first great-grandchild Savannah in 2010, the Native American word for ‘grassland’.

Then there’s the Earl and Countess of Ulster’s daughter, 24th-in-line to the throne Cosima, whose name means ‘universe’ or ‘harmony’.

Male names have proven more traditional in recent times, so here’s hoping a little Psy comes along soon to keep Prince George company. It would make all this much more exciting.

As the 'great Kate wait' begins again, follow our live blog here.