Prince Harry and Meghan Markle might have twins.

Earlier this week, the palace announced that the Duke and Duchess of Sussex are expecting their first baby. The new royal will be the seventh-in-line to the throne. Based on the betting odds, however, Prince Harry and Markle might welcome two babies. The odds of the couple having twins have risen from 8-1 to 4-1 in the last 24 hours, according to Coral.

"Many punters feel as though Meghan and Harry will have their hands full with not one but two babies next year as we have seen a rush of bets since their announcement for the couple to have twins," Coral's John Hill said (as quoted by Daily Star).

The odds of Prince Harry and Markle having triplets is 50-1. On the other hand, welcoming a baby boy is the favorite at 10-11 in the gender betting.

As for the name of the baby, former royal butler Paul Burrell urged the couple to name the upcoming heir after Princess Diana. He calls Prince Harry and Markle to be brave and pick the late Princess of Wales' moniker.

"Dear Meghan and Harry, Many Congratulations to you both on your wonderful news. Australia has taken you to their hearts and have seen at first hand the inspirational people you are. If your baby is a girl, be brave and call her Diana which would make your Mother so proud," Burrell wrote on Twitter.

Princess Diana's name has always been among the favorite for the Duke and Duchess of Sussex's baby. In fact, it's among the early frontrunners with 12/1 odds along with Arthur and Alice. The other popular names were James and Mary with 16/1 odds.

"At this stage, Diana, Arthur, and Alice, which was favorite at different stages for Kate and William’s babies, are the 12/1 frontrunners. However, with months until the baby is born, those odds will shorten, change, and other names will come to the forefront, so watch this space," Betfair spokesperson Katie Baylis told Express.

Prince Harry and Markle were in Sydney when Kensington Palace made their baby announcement. Thus, Australians were hoping that the royal couple would name their baby "Sydney."

"Terrific news! I think the baby name will need an Aussie flavor too – Sydney? A great name for a boy or a girl!" Kellie Sloan wrote on Twitter.

Prince Harry and Meghan Markle
The odds of Prince Harry and Meghan Markle having twins have slashed amid Paul Burrell insisting that they name their baby, Diana. Pictured: Prince Harry and Markle meet the public at Sydney Opera House on Oct. 16, 2018 in Sydney, Australia. Getty Images/Mark Metcalfe