The royal birth of the Duke and Duchess of Cambridge's child set the money wheel turning for bookies Monday. They cashed in big as thousands of Britons joined a baby name guessing game, among others.

Coral said gamblers were "racing to wager on everything about the new heir to the throne." Coral called the betting frenzy the biggest non-sporting betting event that the company has ever witnessed throughout its history.

"The whole world has been waiting for Kate to go into labor and now that she has, we have witnessed another betting frenzy," said Coral's spokeswoman, Nicola McGeady, hours before the birth was announced.

Hours after Kate went into labor, Ladbrokes took 50,000 bets for the royal baby's name. Small amounts of money poured because people "wanted to be involved," said Ladbrokes' spokesman, Alex Donohue.

Meanwhile, Paddy Power took bets on what color Pippa Middleton's dress will be when she came to visit her royal nephew. Other bets included whether the royal baby would represent the country in the Olympics someday.