Royal baby official title revealed, to be named Prince or Princess of Cambridge after mum and dad William and Kate

The royal baby has already been given its official title by the Queen, confirming we will have a new prince or princess running around.

A royal source confirmed to Yahoo that Kate Middleton and Prince William's son or daughter's official title as decreed by their great-grandmother will be His or Her Royal Highness, the Prince or Princess of Cambridge.

While William and Kate are the Duke and Duchess of Cambridge, their bundle of joy will be the first royal to be named prince or princess of the East Anglia city in over 100 years.

But while we might know the baby's title, the public are no closer to finding out what Kate and Wills are planning on naming the royal arrival.

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[Royal Baby's OFFICIAL TITLE revealed!]

William Hill are currently taking bets on the new baby's moniker, with Alexandra and George coming in as favourites for a girl or boy respectively.

There is a (ridiculously) slim chance that the Duke and Duchess may opt for a more, err, unusual name, with Chardonnay and Wayne at 250-1 and the feminine Waynetta at 500-1.

And with news that Kate Middleton is in 'the early stages of labour' this morning, it may not be long before the world gets a glimpse of the new prince or princess.

Following the Succession to the Crown Act 2013, if the new arrival is a girl she will one day become Queen even if she has a younger brother.

The act changes a law dating back to 1701 that gave precedent to brothers over sisters in the line of succession to the UK crown.

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Thanks to this amendment, introduced by Deputy Prime Minister Nick Clegg, whether Kate gives birth to a boy or a girl this weekend they will automatically become third in line to the throne.

We're sure Prince Harry, who currently holds the third spot, won't mind handing over that responsibility to his new niece or nephew.