This Is the Top Name Prediction for Meghan Markle and Prince Harry's Baby Boy

Now that Baby Sussex has arrived, what will Meghan Markle and Prince Harry name their new son?

According to U.K. bookies Ladbrokes and Sportsbet, the top pick is Arthur. Coming in second for name predictions is James, which is followed by Philip (for great-grandfather Prince Philip) and Albert.

In addition to its recent popularity, Arthur is a royal family tradition. Prince William, grandfather Prince Charles and cousin Prince Louis have it as a middle name. Arthur was also the name of Queen Victoria’s third son (and seventh child) and was said to be her favorite child.

Albert is also a family tradition. In fact, Queen Victoria incorporated the name Albert (the name of her beloved husband, Prince Albert) in all of her sons’ names. Victoria’s grandson, George V, even incorporated it into his three sons’ names.

“While she was alive, Queen Victoria wanted all her male descendants to have Albert included in their boys’ names,” Joe Little, managing editor of Majesty magazine, previously told PEOPLE.

The new royal parents will likely share the name of their baby boy on Wednesday, when they make their official debut as a royal family of three. On Monday, Harry said that they were “still thinking about names” for their new son.

“The baby’s a little bit overdue, so we’ve had a little time to think about it. That’s the next bit,” he said.

Prince William and Kate Middleton waited two days to announce Prince George and Princess Charlotte‘s names after their respective births. They waited four days to announce Prince Louis‘ name.

Harry made a short on-camera appearance to announce that he and Meghan had welcomed a baby boy early Monday morning.

RELATED: Did Meghan Markle and Prince Harry Welcome Their Baby Boy at Home?

“I’m very excited to announce that Meghan and myself had a baby boy early this morning, a very healthy boy,” he said with a big smile on his face. “Mother and baby are doing incredibly well.”

“It’s been the most amazing experience I could ever possibly imagine,” Harry continued. “How any woman does what they do is beyond comprehension. But we’re both absolutely thrilled and so grateful to all the love and support from everybody out there. It’s been amazing, so we just wanted to share this with everybody.”

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