Balloons for Speed, also known as Speed Bubbles, is a timed, rapid-fire bubble shooter in the geometric subcategory that includes Balloons Around and Balloons Pyramids. Against a black background that features floating dynamic shapes of various sizes, the player attempts to clear a pentagon-shaped grid as quickly as possible. They track their progress with a timer along the top of the grid.
The grid features seven rows on each of the five sides. The upper-left area shows the main shape for the game (i.e., a clown face bubble). The player can use the lower-left gear button to make custom shape changes to hexagons, rings, squiggles, stars and a mix of shapes. With almost all custom options, the shapes take on a neon glow.
The player must shoot a shape projectile positioned at the center of the grid at two or more color-matched shapes in the rows. They receive assistance from a laser-style aiming line. That said, the line doesn't always point accurately, which can make gameplay a more difficult challenge. When the player creates a cluster of three or more matching shapes, the game removes it and any non-matching shapes attached only to it.
Like many bubble shooters, Speed Bubbles has a pass system. The player can fail to create a cluster of shapes three times, as indicated in the upper-right area. The game then penalizes them by adding a row to the grid.