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MEGHAN Markle and Prince Harry welcomed their first child, a baby boy, yesterday - and ever since, bookies have been weighing in on possible names for the new member of the family.

Now, bookies have slashed odds that the tot will be named Spencer, following a flurry of bets.

 Meghan Markle and Prince Harry could call their royal baby Spencer
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Meghan Markle and Prince Harry could call their royal baby SpencerCredit: Getty - Pool

The moniker - which was Princess Diana's maiden name - is now the third favourite, with odds cut from 50/1 to just 4/1 in the last 24 hours.

It follows a surge of bets since the baby was born, with 42 per cent of all bets backing the name.

Alexander is currently the favourite, with odds of 6/1 followed by James and Arthur which both have odds of 7/1.

Oliver is also thought to be in the running, with odds of 16/1.

 The name would be in tribute to Diana
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The name would be in tribute to DianaCredit: Getty - Contributor

If Harry and Meghan did choose the name Spencer, it would be in tribute to Prince Harry's late mother, Princess Diana.

"It comes as something of a surprise to see the traditional names such as Alexander and James being amongst the favourites given the speculation that they will choose something 'unusual'," said spokesperson George Elek.

"Spencer therefore seems more in line, whilst paying tribute to Prince Harry's late mother."

 The couple welcomed their first royal baby yesterday
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The couple welcomed their first royal baby yesterdayCredit: Getty - Pool

Meghan Markle and Prince Harry welcomed their first born yesterday morning at 5.26am.

The new royal weighed 7lbs 3oz and it's thought the Duchess gave birth at luxurious private hospital, The Portland.

In other Royal baby news, we told you how Harry praised new mums after Meghan gave birth to Baby Sussex in hospital.

We also revealed Harry has had "about two hours sleep" since Meghan gave birth.

And we explained Meghan’s baby boy shares succession similarity to the Queen who was also born seventh in line to the throne.

Holly Willoughby argues it doesn't matter Meghan Markle and Prince Harry kept birth secret for nine hours
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