Balderis, who is one of the most prolific Latvian hockey player ever, began his career with the Dinamo Riga in 1968-69, while the club was playing in the Third Division. His excellent play helped the Dinamo climb the ladder to reach the Soviet Hockey League in 1973. He would play with Riga until 1977-78, season where he joined the CSKA Moskva; he returned to the Dinamo in 1980 until 1985. That year, he retired to become a coach in Japan. He however returned in 1989, when Soviet players were allowed in the National Hockey League. He was inducted to the International Hockey Hall of Fame in 1998.