A method, apparatus and computer program product are provided to enable the provision of efficient processing in the area of video coding and decoding by employing complexity balanced entropy coding in order to provide a high level of capability with respect to video coding and decoding in a cost effective manner. A method includes categorizing a plurality of syntax elements of video content into first and second categories based on a frequency of occurrence of the syntax elements in the video content. The method also entropy codes symbols that correspond to the first category of syntax elements and that have been subjected to a context update. Further, the method entropy codes symbols that correspond to the second category of syntax elements and that have bypassed context updating. A corresponding apparatus and computer program product are also provided.