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Alpha just got done doing abs with an exercise ball. The ball is great for working abs. Aaron Marino of alpha m. says that the balls are tested to hold hundreds of pounds but can break.
Alpha saw a person do bench press on the ball the other day. The ball burst, and the guy got injured, slamming his back into he ground. The risk and reward for doing weights on an exercise ball is not worth it. Bottom line, only use the ball to do body weight exercise like abs and push-ups.