If a valve ball (or gate, plug, etc.) is provided with an equalizing hole, it allows a pressure balance across the valve seats while in the open position, and effectively lowers the valve torque when stroking to the closed position. This is why many valve manufacturers will include it as a standard feature.
By being present however it prevents the valve cavity from being blown down while in service. Many operators want to blow down the body cavity with the valve in the open position as a means of verifying the integrity of the valve seats.