The original plan was to use the name Yarmouth Mariners, but the name was disliked by supporters and the name "Bloaters" was chosen because of the town's connections with the fishing industry.

[6] Yarmouth wanted to open the 1954 season several weeks late, but this wish was denied by the Speedway Control Board and the Bloaters were not issued a racing licence for that year.

During the season the club lost money after several home meetings were cancelled due to bad weather, and they finished seventh out of ten teams.

[1] The decision was taken not to enter the Provincial League for the 1961 season by the promoters[9] and after taking part in several open meetings the Bloaters closed due to financial problems.

The stadium now hosts greyhound and stock car racing, and the speedway track has been covered over with tarmac.