Ballangrud was four times World Allround Champion, four times European Allround Champion, five times Norwegian Allround Champion, and four times Olympic Champion. He won three Olympic titles at the 1936 Winter Olympics in Garmisch-Partenkirchen: 500 m (quite surprisingly), 5000 m, and 10,000 m. On the 1500 m during those Winter Olympics, he won silver – his teammate Charles Mathiesen being the only one to keep him from winning gold in all four speed skating events. Ballangrud had won his first Olympic gold 8 years earlier on the 5000 m at the 1928 Winter Olympics. In addition, he won a bronze medal (1500 m) in 1928 and a silver medal (10,000 m) at the 1932 Winter Olympics. He would have been the favourite for winning more Olympic gold in 1932 if the races had been held in the normal European way, not the American "pack-style" way where all competitors are on the ice at the same time.