known as world bet exchange . for the song by aya kamiki and takuya asanuma see w b x w boiled extreme . world bet exchange type public industry online gambling founded 2002 headquarters notting hill gate london united kingdom key people malcolm gray ceo products bet exchange mobile gambling website wbx.com world bet exchange wbx was a person to person betting exchange based in notting hill gate london in the united kingdom and licensed and regulated by the uk gambling commission . wbx.com was founded in 2002 by malcolm gray but did not officially launch until november 25th 2006 . in an interview prior to launch gray was quoted as saying in an industry where the current market leader has a virtual monopoly we believe the arrival of wbx will put every exchange player back in control . we will continually seek to offer a vibrant exciting and innovative alternative to betfair and we hope this will promote healthy rivalry . 1 on 16 march 2015 the company announced that it was shutting effective 5pm the same day . 2 contents 1 company structure 2 racing sponsorship 3 industry status 4 notes 5 external links company structure edit world bet exchange limited and wbx members funds limited are wholly owned subsidiaries of wbx holdings plc. all three companies are registered in england and wales . wbx members funds limited which does not otherwise trade is a company that was established in order to safeguard members funds in a separate bank account . the funds are held subject to a trust deed and quarterly external audits which are published on the wbx website . 3 this company structure renders improper use of members funds illegal which apparently was not the case in the sporting options incident . racing sponsorship edit fighting fifth hurdle sponsored by wbx prior to the launch of wbx.com the company was already the fourth largest sponsor of horse races in britain 4 having spent more than 250 000 5 on over 200 race sponsorships . 6 coinciding with the november 2006 launch wbx founded the triple crown of hurdling to complement their sponsorship of the newcastle fighting fifth hurdle at kempton park racecourse . when asked about the triple crown malcolm gray was quoted as saying the wbx hurdling triple crown will bind together ... three races fighting fifth hurdle christmas hurdle and champion hurdle to form a championship series which will finally offer horse racing fans a true measure of the greatest hurdlers in national hunt racing . 7 if any horse wins all three legs in a given season a 1 million bonus will be awarded and divided amongst connections of the horse making the triple crown the richest ever prize over small obstacles . 8 industry status edit like other rivals to betfair wbx attempted to secure new customers by charging less commission on winning bets . 9 according to the findings of their own unpublished study the company claimed that its members would have paid 35 % more commission had they done their betting at betfair . 10 wbx also moved to capitalize on betfair s september 2008 decision to impose a premium charge on winning bettors . 11 12 wbx claimed that its members wagered over 500 million against one another in 2008 and in excess of 1 billion since its inception in 2006 . 10 notes edit new exchange wbx is finally ready to launch racingpost.com 25 october 2006 accessed 24 april 2009 . betting exchange wbx closes betfair romps on theregister.co.uk 17 march 2015 accessed 15 march 2015 . wbx quarterly assurance statements wbx enter sponsorship debate sportinglife.com 26 march 2007 accessed 24 april 2009 . wbx come out fighting in battle of the exchanges dailymail.co.uk 22 november 2006 accessed 20 september 2009 . wbx to put up 1m hurdling bonus again racingpost.com 7 september 2007 accessed 20 september 2009 . fighting fifth to launch the 1m rollover icnewcastle.icnetwork.co.uk 28 october 2006 accessed 24 april 2009 . go native closes in on 1m payout mirror.co.uk 16 february 2010 accessed 24 february 2010 . record turnover for wbx on six month anniversary egrmagazine.com 29 may 2007 accessed 24 april 2009 . a b wbx.com launches wbx mobile journalism.co.uk 20 february 2009 accessed 24 april 2009 . wbx moves to capitalize on betfair premium charge betting business.com 2 october 2008 accessed 24 april 2009 . betfair bosses deny being too greedy racingpost.co.uk 11 september 2008 accessed 24 april 2009 . external links edit official site retrieved from https en.wikipedia.org w index.php title wbx & oldid 705003062 categories defunct gambling companieshidden categories use dmy dates from may 2015use british english from may 2015pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity 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