Breiðablik has several sports divisions, both men's and women's, including football, athletics, basketball, karate, dance, skiing and swimming.

In recent years the Breiðablik men's team has established itself as a powerhouse in the Icelandic league, challenging regularly on all fronts.

Throughout its history, the team has however been notorious for bouncing between the two top leagues in Iceland, getting promoted and relegated on a regular basis.

Since being promoted in 2005, and under the guidance of coach Ólafur Kristjánsson since 2006, the team has grown steadily and established itself as a real challenger in the Icelandic top-flight.

The team won away from home in Europe for the first time with a memorable 1–0 victory over Austrian side SK Sturm Graz in the 2013–14 competition.