The Duke and Duchess of Cambridge named their third son Louis Arthur Charles – with the moniker having odds of just 20/1 of being chosen.
The couple managed to catch everyone by surprise, with Arthur and James previously firm favourites.
Alex Apati of Ladbrokes said: "Prince Louis has caught both bookies and punters by surprise. With it being one of Prince George's middle names fans didn’t see it as an obvious front runner for Kate and Wills second son."
He added: "It looks like we made the right decision to keep betting open until the very end for royal punters, rather than suspending the market or paying out early due to the rumour mill going into overdrive, as we so often saw over the last few days."
It comes after the speculation hotted up overnight that the baby boy could be named Albert after an apparent Kensington Palace website "glitch".
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According to some of Ladbrokes' most recent bets, favourite names included:
- Albert – 1/3
- Arthur – 11/4
- Alexander – 8/1
- James – 10/1
- Philip – 12/1
- Louis – 14/1
- Henry – 16/1
- Frederick – 20/1
- Thomas – 20/1
- Edward – 20/1
Kate and Wills finally revealed their baby boy's moniker after the Duchess of Cambridge gave birth at the exclusive Lindo Wing at St Mary's Hospital in Paddington on Monday.
Their other son's full name is George Alexander Louis, while his sister is Charlotte Elizabeth Diana – both heavily referencing their family trees.
The child appears to have been named after Louis Mountbatten, the much-loved uncle of Prince Philip, who was killed by an IRA bomb in 1979.
The newborn's full title is His Royal Highness Prince Louis Arthur Charles of the United Kingdom of Great Britain and Northern Ireland – but he's likely to be known by his rather shorter new name.
The tot, born a healthy 8lbs 7oz, will join Prince George and Princess Charlotte in building up the next generation of the royal family.
A statement released by Kensington Palace on Twitter read: "The Duke and Duchess of Cambridge are delighted to announce that have named their son Louis Arthur Charles.
"The Baby will be known as His Royal Highness Prince Louis of Cambridge."
Sun Bets had Albert as their final favourite at 4/11.
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