Balobaid started his career at the youth team of Al-Taawoun. He made his first-team debut on 24 October 2020 in the AFC Champions League group stage match against Qatari side Al-Duhail.[3] He came off the bench in the 38th minute following an injury to Hamdan Al-Ruwaili.[4] On 23 October 2020, Balobaid signed his first professional contract with the club.[5] On 6 November 2020, Balobaid made his Pro League in the 1–1 draw against Al-Ittihad.[6] He made 3 further appearances during the 2020–21 season. On 17 September 2021, Balobaid made his first appearance of the 2021–22 season in the 5–3 derby defeat to Al-Raed.[7] He made 21 appearances and assisted twice during the course of the 2021–22 season as Al-Taawoun managed to finish 12th and avoid relegation. On 30 April 2022, Balobaid renewed his contract with Al-Taawoun for another three years.[8]
On 7 September 2023, Balobaid joined Al-Ahli on a five-year deal.[9]