Phosphate glasses have recently gained importance in studies related to electrochemistry and optoelectronics. Some important breakthroughs in these topics have been presented in this study. Also, a detailed scientific analysis of related phenomena like energy transfer efficiency, amplified spontaneous emission, and supercontinuum generation has been discussed. The mathematical modeling of phosphate glass-based fiber optic amplifiers has been briefly presented. In addition, some recent novel studies have been qualitatively reviewed. This study may be useful to both new entrants in the field and technologists engaged in designing these devices.