Royal baby name: Surge of bets on Charlotte leave bookies possibly facing £1 million payout

Olivia has become a late favourite

The Duke and Duchess of Cambridge with their baby daughter on the steps to the Lindo Wing at St Mary's Hospital (Getty Images)

There has been a last minute flurry of bets on Charlotte as the most likely name for the new princess, leaving bookies potentially facing a seven-figure payout to punters

The name has now been placed top of the list at 3/1 with Ladbrokes and Paddy Power, and level with Alice, the previous favourite, with the same odds at Coral.

A peak of interest led Sky to temporarily suspend bets on the name Charlotte last night, as the odds hit 2/1.

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Victoria and Elizabeth remain popular, Diana is at 10/1 and Frances and Grace are long shots at 25/1.

Ladbrokes has said that if one of the top names is chosen: “The payout for the betting industry will be bumped up to a million pounds”.

The name Charlotte has a long royal pedigree. It is of course the feminine of Charles and was the name of George III's queen.

Likewise Alice was the name of the Duke of Edinburgh's mother and also a daughter of Queen Victoria.

A Paddy Power spokesman said: “The punters are back caught in Charlotte's web, but it could still be Alice in Wonderland.”

AP and PA