UPDATE: KATE MIDDLETON GIVES BIRTH TO A BOY!

Kate Middleton is finally in labour to give birth to the heir to the British throne and bookies are having a field day as thousands continue to place bets on the gender and the possible name of the child.

Within hours of Middleton checking into St. Mary's hospital this morning, Ladbrokes has taken in over 50,000 bets. According to the bookmaker's spokesman Alex Donohue, the public want to "be involved" in the royal baby's name and are placing small amounts of money.

Punters are betting everything from the gender, weight, eye color, and more as they await the impeding birth of the royal baby.

So far, the public thinks that if it's a girl, the royal baby would be Alexandra, and if it's a boy, James and George. Other popular names are Elizabeth, Diana, Charles and Philip.

Click here the full list of baby names and other bettinds for Ladbrokes.

Click here for William Hill betting odds. 

The following are the top royal baby names, according to bets placed on bookmaker William Hill.

GIRL
1) Alexandra (9/4)
2) Charlotte (5/1)
3) Elizabeth (10/1)
4) Victoria (10/1)
5) Isabella (12/1)
6) Diana (14/1)
7) Alice (20/1)
8) Mary (25/1)
9) Catherine/Kate (33/1)
10) Grace (33/1)
BOY
1) George (5/1)
2) James (10/1)
3) Henry (14/1)
4) Arthur (20/1)
5) Louis (25/1)
6) Albert (40/1)
7) Alexander (40/1)
8) Benjamin (40/1)
9) David (40/1)
10) Philip (40/1)

Even if the royal baby is born today, it is unlikely that the name of the child will be revealed right away. History of royal births suggest that that the public will be waiting several days to weeks before the name is revealed.