Balloon fishing is a well known technique to get baits out much further than a normal cast.
A popular technique for land based game fishing, the intent is for the balloon to serve as a large bobber, suspending the live or dead cut bait near the surface of water. Such a skipping action of the bait can lure fish to the surface, including the likes of Spanish Mackerel, Tuna and Sail Fish.
Balloon fishing rig
The below vid shows a typical Balloon fishing setup.