The Ripley youngster was taken to hospital after collapsing during a contest just after 10pm.
Doctors at King’s Mill Hospital fought to save Bilbey although efforts proved to be in vein as he had already sadly passed away.
Police, who are not treating the death as suspicious, are appealing for witnesses who may have video footage to help them piece together what actually transpired in the Market Street clash.
“We were called to the Post Mill Centre at South Normanton at 10.17pm yesterday (Friday March 24) after the youth had collapsed in the ring,” A Derbyshire Police spokesman told The Nottingham Post.
“The young man had been given medical treatment by professional medics at the match, which was continued by paramedics, but he was pronounced dead on arrival at King’s Mill Hospital.
“A post mortem examination, to determine the cause of his death, and a formal identification will take place in the next few days. We’re investigating on behalf of the coroner.
“At this stage there don’t appear to be any suspicious circumstances surrounding this death but if you were at the tournament and have any footage of the bout or information that might help, please contact Detective Sergeant Debbie Yoxall on 101, quoting incident number 1162 of March 24,” he added.
The Board of England Boxing have released a statement on the tragedy:
“We are extremely saddened… and would like to express our sincere condolences to the family and friends of the person involved in this terrible and shocking incident.
“We are also asking all of the England Boxing coaches, officials and volunteers that were present on the night to co-operate with the police investigation and assist the authorities in any way they can.
“We will be providing support to people that have been affected by this terrible news.”
It has since been revealed that Bilbey was fighting an opponent he had fought before and both boxers were wearing headguards for the contest.