  Gamma-ray bursts (GRBs) have long been held as one of the most promising
sources of ultra-high energy (UHE) neutrinos. The internal shock model of GRB
emission posits the joint production of UHE cosmic ray (UHECRs, above 10^8
GeV), photons, and neutrinos, through photohadronic interactions between source
photons and magnetically-confined energetic protons, that occur when
relativistically-expanding matter shells loaded with baryons collide with one
another. While neutrino observations by IceCube have now ruled out the simplest
version of the internal shock model, we show that a revised calculation of the
emission, together with the consideration of the full photohadronic cross
section and other particle physics effects, results in a prediction of the
prompt GRB neutrino flux that still lies one order of magnitude below the
current upper bounds, as recently exemplified by the results from ANTARES. In
addition, we show that by allowing protons to directly escape their magnetic
confinement without interacting at the source, we are able to partially
decouple the cosmic ray and prompt neutrino emission, which grants the freedom
to fit the UHECR observations while respecting the neutrino upper bounds.
Finally, we briefly present advances towards pinning down the precise relation
between UHECRs and UHE neutrinos, including the baryonic loading required to
fit UHECR observations, and we will assess the role that very large volume
neutrino telescopes play in this.
