Popular betting odds on a new princess named Alice could cost the industry big money this week

By Katherine Foreman
Updated April 20, 2015 09:25 AM
Max Mumby/Indigo/Getty

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They say a good name is worth its weight in gold.

According to the bets being waged on the much-anticipated addition to Prince William and Princess Kate‘s royal brood, a good name is worth about $750,000.

According to an industry estimate from bookmakers William Hill, that’s the payout that bookmakers are expecting to make if the baby is a girl, called Alice and arrives on Tuesday, April 21.

William Hill’s most recently updated stats show that the name Alice rests comfortably atop the list as the market favorite at 6/4, with the most popular date of arrival being April 21, which also happens to be Queen Elizabeth II’s 89th birthday.

Even if the birthdate ends up the only successful odd, betters could cost the industry as much as $110,000 – the largest “date” payout in William Hill’s 81-year history.

No big deal, kid.

The name Alice has made significant appearances within the United Kingdom’s royal history, most popularly through Princess Alice of Hesse, Queen Victoria’s second child, and Princess Alice of Battenburg, mother to Prince Philip, Duke of Edinburgh.

Close runners-up for baby names include Elizabeth and Charlotte at 11/2 and Victoria at 12/1.

Royal superfans who have already begun camping out at St. Mary’s hospital in London are hoping for a daughter named Elizabeth, in honor of the original birthday girl.

“It would be nice to call it Elizabeth, [who will be] the longest-serving monarch in history,” says ardent royal supporter John Loughery, who also adds that he’d like to see the name paired with Diana in remembrance of one of his favorite royals.

“It’d be nice for Prince George to play with a sister – they could share their toys. That’d be fantastic!”

Popular name contenders for a second baby prince are James (8/1), Arthur (20/1), and Alexander (25/1).

Keep reading PEOPLE.com for more on the royal birth.

Is Princess Kate Having a Baby Girl?