Australians are having a punt on the new name of Microsoft's next generation browser.

Despite worldwide celebrations that Internet Explorer had been killed off by Microsoft, the company confirmed Wednesday to Mashable it is yet to totally pull the plug on one of the world's most hated browsers.

It all began when Microsoft’s marketing chief Chris Capossela said at a conference Monday the company was looking for a name for its new browser codenamed Project Spartan, according to The Verge.

“We’re now researching what the new brand, or the new name, for our browser should be in Windows 10,” Capossela said. "We’ll continue to have Internet Explorer, but we’ll also have a new browser called Project Spartan, which is codenamed Project Spartan. We have to name the thing."

Aussies then began jumping on the bandwagon and placing bets on the likely name for the shiny, new browser after Australian betting website Sportsbet started a special market with odds ranging up to A$501.

Image: Sportsbet

Due to the codename, the name Spartan is leading the race at A$7.50, Bing is hanging in at A$11, while Windowscape is sitting pretty at A$16. From there it all gets a bit out of control, with Bill Gates II, Google II and Dora the Internet Explorer all offering ridiculous odds.

“Internet Explorer really went places no browser had gone before but unfortunately it just kept going until it got well and truly lost so a reboot is much needed, all hail Spartan!" Sportsbet’s Will Byrne said in a statement.