LONDON (CBSDFW.COM/AP) – The new prince has a name. Britain’s royal palace says the infant son of the Duke and Duchess of Cambridge has been named Louis Arthur Charles.

The palace said Friday that the baby’s full 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 one of Britain’s major betting firms stopped taking bets on what the name would be.

William and Kate’s third child was born Monday, a brother to 4-year-old Prince George and Princess Charlotte, who is almost 3.

Louis is fifth in line to the throne after his grandfather Prince Charles, his father and older siblings.

(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)