The new royal baby has a name - and the bookies are shocked!

The Duke and Duchess of Sussex announcing the name - Archie Harrison Mountbatten-Windsor - on Instagram Wednesday. The post included a photo of Queen Elizabeth meeting the baby, alongside Prince Philip, and Meghan's mother, Doria Ragland. This is the Queen's eighth great-grandchild.

Tourists gathered near Buckingham Palace to celebrate the news, some noting that babies and births can be unifying for all parents. Ann Merrill, who was visiting from New York, said, "It just brings me back to when we had our baby. I know they're going to be great parents."

The announcement of the name also indicated Harry and Meghan appear to be forgoing any royal titles for their son. However, when Prince Charles becomes king, the baby will automatically become "Prince Archie," according to the convention set by King George V in 1917 - though the family may choose not to use that title.

Bookies were taking bets right up until the name was made public, but Archie was a 100/1 shot. More popular options were Alexander, Albert, Arthur and Philip.

Harry and Meghan faced a bit of criticism for choosing to announce the birth of Archie on Instagram, and wait two days before showing the baby publicly, but some royal experts say this is actually a modern update to how royal births were announced for generations.

"This is reverting back to the way royal births have always been displayed - an easel and a simple statement," said Thomas Mace-Archer-Mills, Founder and Director of the British Monarchists Society, "The Duke and Duchess of Sussex have not rewritten history. They have not done anything different. They've simply reverted back to the way royal births were announced pre-Princess Diana."

As for the baby's middle name of Harrison, that name means, literally, "on of Harry."