The Duke and Duchess of Cambridge have announced their baby daughter is to be called Charlotte Elizabeth Diana.
Kensington Palace said the couple were “delighted” to announce the baby will be known as “Her Royal Highness Princess Charlotte of Cambridge”.
Bookmakers had made Alice the favourite after a flurry of last minute bets knocked Charlotte off the top spot.
Ladbrokes said that since the baby was born punters had placed more bets on the name than on the General Election.
One lucky royal fan – a woman from Barnes – has won £1,400 after placing £400 on the correct name at odds of 5/2 on Saturday evening.
Sky’s Royal Commentator Alastair Bruce said: “It’s a name that has tremendous history. It will always provide a link to the past and opportunity for this young princess to create her own identity as Princess Charlotte.”
Mr Bruce said choosing Elizabeth was a “salute to Her Majesty The Queen” who the Duke and Duchess are “hugely fond of”.
He added he thought it was “almost inevitable” the name Diana was chosen due to the “extraordinary influence” Prince William’s mother had on his life.
The Duke places great importance on honouring Diana’s memory, having already used her sapphire and diamond engagement ring when he proposed to Kate.
The name Charlotte is French in origin and means “petite” and “feminine”. It is also the middle name of Kate’s sister Pippa.