Prince Harry, Meghan Markle could name their baby girl after Prince Philip

Prince Harry and Meghan Markle are expecting a baby girl this summer and while they have yet to reveal her name, bookies claimed that they will likely make tribute to the late Prince Philip.

Punters over at U.K. gambling site Ladbrokes have their bets on Philippa as the name the Duke and Duchess of Sussex will choose for their daughter. This is said to be in favour of the duke's late grandfather and husband of Queen Elizabeth II, who passed away on April 9 at the age of 99.

Prince Harry and Meghan Markle would not be alone in paying tribute to Prince Philip with their baby girl's name. Cousins Princess Eugenie and Zara Tindall also named their children after the Duke of Edinburgh. The princess and her husband Jack Brooksbank named their son August Philip Hawke while Tindall's son is Lucas Philip.

Meanwhile, another favourite is Diana after Prince Harry's mother, the late Princess of Wales. It has the odds 5/1 and the third contender is the name Elizabeth, in honour of 95-year-old Queen Elizabeth II with odds at 10/1. Over at BoyleSports, bets are high on Lily after the queen's nickname with odds at 25/1.

"Diana is the clear favourite in our market but that hasn't put punters off predicting some other potential names," Sarah Kinsella, Spokesperson for BoyleSports said in a statement published by Daily Mail.

"Lily is the biggest mover of the week into 25/1 from 66/1 while Grace tumbled into 16/1 from 50/1 last week as royal watchers continue to speculate with some well-based theories," she added.

Other top predictions include Victoria (16/1), Allegra (10/1), Rose (16/1), Alice (16/1), Emma (16/1), and Alexandria (12/1).

The Duke and Duchess of Sussex announced they are expecting a sister for Archie during their sit-down interview with Oprah Winfrey in March. At the time, the couple said they decided to go have an ultrasound to check the baby's gender, which they did not do when pregnant with their son.

Prince Harry and Meghan Markle likewise told Winfrey that they will stop at two children. The duke even admitted, "To have a boy then a girl — what more can you ask for?"