LONDON - The royal baby has a name. Prince William and Kate, or the Duke and Duchess of Cambridge, as they are formally known, announced Friday that their third child was named Louis Arthur Charles. 

His full formal title is His Royal Highness Prince Louis of Cambridge.

The announcement was made in a tweet from Kensington Palace, the Cambridges' official residence -- not long after Britain's betting houses stopped taking bets on what the name would be, and amid rampant speculation that the royal couple had chosen "Albert."