The composition of 50B2O3-20Al2O3-5Na2O-10Bi2O3-15CaF2-xDy-yEu (x = 0.1,0.5,1.0,1.5,2.0,3.0 mol%; y = 0, 0.1, 0.3, 0.5, 0.7, 1.0 mol%) (BACDE) glass were prepared using the traditional melt quenching process. The structure of the BACDE glass was analyzed using XRD analysis and Fourier infrared spectroscopy. The photoluminescence spectra show that concentration quenching occurs when Dy concentration is higher than 1.0mol% in fluoroborate glass. By varying the excitation circumstances and obtaining emission spectra at three distinct excitation wavelengths (364, 382, and 395 nm), the luminescence characteristics of BACDE glass were examined. The results indicate that when excited at 364 nm, the luminescence of the BACDE glass is close to the white region, a controlled color shift is achieved within a certain range. The spectral superposition and fluorescence attenuation spectra of Dy3+ emission and Eu3+ absorption demonstrate the energy transfer from Dy3+ to Eu3+, and the main transfer mechanism is the electric dipole-electric dipole interaction. The most optimal chromaticity coordinates for the BACDE glass samples were (0.3832,0.3858), (0.3672,0.3949), with a color temperature (CCT) of approximately 3992K at 364 nm excitation. By controlling the Dy/Eu content, BACDE glass can exhibit warm white, and light reddish-orange glow. Thus, Eu3+/Dy3+ co-doped BACDE glasses have potential applications in white luminescent materials and dimmable materials.