It may seem something of a completely alien concept to punters not living in the UK, but whenever news of a Royal Baby hits the headlines, all bookmakers in the UK will open a range of different betting markets surrounding the soon to be born baby.
As soon as Meghan and Prince Harry announced that they were to be parents for the very first time, all manner of betting markets appeared offering punters and fans of the Royal Family the chance of having a bet on the sex of the baby and its name, too.
Plenty of people did have a bet on the name they thought was going to be given to the baby, and bookies had names such as Alexander on offer as the favourite at odds of 7/2, followed by Spencer and James at 4/1.
A late flurry of bets came in for the name Theodore, which resulted in the odds for that name dropping from 16/1 to 5/1. However, the name finally chosen and announced for the new Royal Baby was a surprise to many people, for that name was Archie.
A handful of punters had chosen Archie to be the name of the child, however, most of them bet the odd Pound here and there, and were able to get odds on that name of between 100/1 and 150/1.
However, news did come in that one woman who opted for anonymity had placed a huge bet of £120 on the name Archie and managed to get odds of 150/1, meaning she walked off with a huge £18,000 in winnings.
The reason that punter picked the name Archie was that she became a grandmother on the day of the birth of the Royal Baby and that was the name chosen for her new grandchild.