Bookmakers have been quick to react to the news by offering odds on a variety of possible names, and William Hill has installed Alfie as the favourite at 4/1 as Cheryl has spoken of her affection for the name in the past.
Harry is rated as a 10/1 shot and Rickie at 12/1 with William Hill, but Coral has another name at the top of its list as bosses think the couple might just be inspired by friend and X Factor boss Simon Cowell. Simon is a popular choice with punters and has been backed in to 10/1 with Coral, ahead of Liam and Will at 12/1.
Coral’s David Stevens said: “Now that Cheryl and Liam have welcomed a baby boy, we've launched betting on the name of the pop star couple's little one and Simon has emerged as the favourite.”
Betting on the name of a famous person's baby has become increasingly popular and in 2015 bookmakers paid out more than £1 million when the Duchess of Cambridge safely delivered Princess Charlotte Elizabeth Diana. As fans of Cheryl and Liam wait for an announcement confirming the baby’s name, there are a host of other non-sporting markets to explore at Coral, whether it is for the winner of the latest series of The Voice or the identity of the next Doctor Who.