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Prince Barack? How about a Prince Elvis?

Ever since the Duchess of Cambridge first announced her pregnancy, international bookies have taken bets on everything from the Duchess of Cambridge's due date to her baby's first word (the odds-on favourite is "PaPa").

But nothing has generated more speculation – and heated bidding – than the baby's name. He's not yet a day old and may take weeks to officially name, but this hasn't stopped bookies from accepting tens of thousands of dollars in bets.

So far, the odds-on favourite for the Duke and Duchess of Cambridge's first-born child appears to be George, with 7/4 odds on Irish betting site Paddy Power and 3/1 odds on U.K. site Ladbrokes. This lines up with a Globe and Mail survey earlier this month which also had George as the favourite boy name for the royal couple.

George is Prince Charles' middle name and was used by both the Queen's father and grandfather.

Rounding out the top six are similarly regal names, like James, Alexander, Louis, Arthur (the middle name of both Prince Charles and Prince William) and Henry.

While the serious speculators are putting their money on blue-blooded names steeped in tradition, other less-than-serious names have made the betting table, too.

With the odds at a slim 5001/1, at least one person has put money on the chance the royal couple will take their cue from Kim Kardashian and Kanye West, and name their child, North.

Similarly implausible options include Psy (5001/1), Rumpelstiltskin (500/1), Joffrey (500/1), Barack (250/1) and Elvis (500/1).

Also submitted for consideration (probably by guys named Greg, and Robbie and Jahmene), are the names Greg, Robbie and Jahmene.

It's unclear what will happen if the baby is given more than one name. According to tradition, members of the British monarchy are generally given three or four names. Prince William is actually William Arthur Philip Louis. And Queen Elizabeth's full name is Elizabeth Alexandra Mary.

And for those who prefer longer-term bets, gamblers can have a go at guessing the royal baby's career choice, too (odds that he'll follow in his mother's family's footsteps and go into party planning is 50/1).

Or bet on when you might first catch a glimpse of the royal son in person – Canada is currently leading that race as the favourite with odds at 2/1.