The Duchess of Cambridge gave birth late afternoon yesterday to the royal baby, and as fans of the royals eagerly await to learn the new prince's name, many also speculate on what his surname will be, if he gets one at all.

CBS News reports that among the top picks for names, bookmakers have placed their bets on George (the current fan favorite), James, Alexander, Arthur, Louis, Henry (the birth name of William's brother, Prince Harry), Richard and Phillip.  If the Duke and Duchess stick to tradition, they'll likely give their baby boy several names (Prince William's full name is William Arthur Phillip Louis).

But what about a surname, or last name? Will the royal baby even receive one? 

To answer that question, we'd need to take a look back into the history of royal naming.

The world knows the royal baby's father as Prince William, Duke of Cambridge, but does he have a last name? And what of his new baby boy, the future heir of the throne? Will the royal baby and new prince have a surname like his mother, Kate Middleton?

The Daily Beast explains that prior to 1917, the royal family did not have any surnames, or last names, at all, and rather were members of a House (the Tudors, the Stuarts) that could be used as surnames. Royal family members do have titles and the rights to use them as their last names. As the first in line for the throne, Prince Charles took the title Prince of Wales in 1958, and Princess Diana became the Princess of Wales when they married in 1981.

When his mother became queen, Prince Charles automatically became the Duke of Cornwall at the age of three. Thus his second wife, Camilla, was given the title Duchess of Cornwall.

Which brings us to Prince William, son of Prince Charles and Princess Diana. After he married Kate Middleton in 2011, Prince William became the Duke of Cambridge, and she the Duchess. Thus, their baby could take on the surname Cambridge, if he takes one at all. Otherwise, the new prince will simply be known by his royal title and first name, just like his father.