LONDON–Brits love a good bet. Beyond standard sports and horse races, high-street betting chains like Ladbrokes and Paddy Power invite “punters” to wager on which will be the next volcano to erupt, which book will top Ireland’s bestseller charts, and now, who will design the royal wedding gown.

Now I’m no gambler–and I’m an American living in London, which means betting like this feels pretty, well…foreign to me. But when I saw the list of odds online, I shook my head and reached for my credit card.

I can justify the outlay: I work in fashion, and I’m familiar with the British bridal market. I also spent a decent part of Tuesday afternoon seeking designer comments on what Middleton should wear. The monarchy’s commitment to discretion suggests that only those who hold their tongues are likely to find themselves on a shortlist.

Factors that guided my wager were nationality, design signatures and reputation/prestige. National pride (this is a taxpayer-funded event, after all) means the designer will almost certainly be British–that cuts out bridal mavens like Vera Wang, Oscar de la Renta, Monique Lhuillier and Carolina Herrera.