Helstad was born in Hamar, Norway[2] and started his career in his local club FL Fart where he at age 16 scored two goals against Løten in 1993 that made the team win promotion to Norwegian Third Devision.

After scoring 14 goals in 69 matches for the Austrian side, Helstad returned to Norway where he signed a four-year deal with Rosenborg.

[4] With Steffen Iversen as the preferred striker, Helstad never managed to gain a regular spot in the first squad, but was often used as a winger in a 4–3–3 system.

[4] In July 2008, Brann accepted a €2 million bid for Helstad from French club Le Mans, where he was installed as their starting striker.

In June 2011, Helstad made a free transfer move to recently relegated and former Champions League finalist Monaco.