Balotelli joined his hometown club on a free transfer in the summer, signing a three-year deal.
The 29-year-old’s return to Italy has not been the most fruitful however as a number of on and off-field issues have blighted his short stay at Brescia.
Balotelli threatened to walk off the pitch when he was racially abused by Hellas Verona fans in a Serie A match last month.
The former Manchester City and Liverpool striker was then dropped for Brescia’s league game with AS Roma last week following a training ground confrontation with new manager Fabio Grosso.
That incident led Cellino to make the comments: “'He's black, what can I say?'
Many interpreted those comments as racist, which Cellino denied.
Balotelli was back in action on Saturday as Brescia lost 3-0 at home to Atalanta, but Cellino believes the former Inter and AC Milan forward’s days at the club could be numbered.
'Mario is sad because he can't express the game of football,' Cellino said on Italian TV programme La Iene.
'For him to play in Serie A is a big sacrifice, maybe he thought it was simpler.
'In January he is free to go away for free. Right now he has to choose the road up or down. He has to convince himself. I don't want him to go away. If he leaves, we have both lost the bet.'
Balotelli missed the start of the season due to a four-game ban he picked at previous club Olympique Marseille.
Brescia won two of their opening four games during Balotelli’s absence but they are yet to record any victories in their nine league games since his return.
Balotelli has scored two goals in eight Serie A games this season.