<p>The review delves into the optical and luminescence features of borate- and tellurite-based glasses doped with Holmium (Ho³⁺) and Praseodymium (Pr³⁺) ions, emphasizing their potential for diverse applications. Borate glasses, known for their high ultraviolet transparency and low phonon energy, effectively host Ho³⁺ and Pr³⁺ ions and exhibit emissions in the infrared (IR) and visible regions. Tellurite glasses have a high refractive index and broad infrared transparency, resulting in enhanced emission intensity and efficient radiative decay of Ho³⁺ and Pr³⁺ ions. The borate–tellurite amalgamation leads to thermal stability and optical clarity of borate with a high refractive index and broad IR transmission of tellurite, resulting in glasses with improved luminescence and color purity. Holmium ions embedded in glass matrices emit light in the near-IR and visible range, making them suitable for IR sensors and medical laser systems. Praseodymium-doped glasses exhibit emissions in the visible spectrum, particularly in the red and blue regions, making them valuable for display devices and optical amplifiers. The incorporation of Ho³⁺ and Pr³⁺ ions also influences the optical band gap, refractive index, and radiative lifetimes, offering a wide variety of tailored features. Therefore, the optical characteristics of borate, tellurite, and borotellurite glasses doped with Ho³⁺ and Pr³⁺ ions have gained substantial interest in applications of photonics and optoelectronics. Combining borate and tellurite results in borotellurite glasses doped with Ho³⁺ and Pr³⁺ ions, which have high luminescence efficiency and stability and are ideal for applications in lasers, fiber amplifiers, display technologies, and sensors. The investigation of the luminous properties of these glasses, which have been influenced by phonon interactions and glass composition, reveals their promise in developing next-generation optical devices and photonic applications.</p>