Zinc‐bromine batteries (ZBBs) have recently gained significant attention as inexpensive and safer alternatives to potentially flammable lithium‐ion batteries. Zn metal is relatively stable in aqueous electrolytes, making ZBBs safer and easier to handle. However, Zn metal anodes are still affected by several issues, including dendrite growth, Zn dissolution, and the crossover of Br species from cathodes to corrode anodes, resulting in self‐discharge and fast performance fading. Similarly, Br2 undergoes sluggish redox reactions on cathodes, which brings several issues such as poor reaction kinetics, the highly corrosive nature of Br species leading to corrosion of separators and poisoning of anodes, and the volatile nature of Br species causing increased internal pressures, etc. These issues are compounded in flowless ZBB configuration as no fresh electrolyte is available to provide extra/fresh reaction species. In this review, the factors controlling the performance of ZBBs in flow and flowless configurations are thoroughly reviewed, along with the status of ZBBs in the commercial sector. The review also summarizes various novel methodologies to mitigate these challenges and presents research areas for future studies. In summary, this review will offer a perspective on the historical evolution, recent advancements, and prospects of ZBBs.