Even today, materials having assorted optical and dielectric properties are being searched. Therefore, the glass composition 25Li2O·xBi2O3·(65-x)CdO·10B2O3 where x = 20, 30, 40 and 50 mol% (LBCB 1, 2, 3, 4) were synthesized through normal melt quenching technique. The optical transmission spectra of bismuth oxide containing lithium cadmium borate glasses were explored. The optical band gap energy, Eg, obtained from the analysis of optical absorption spectra is lessened on the addition of Bi2O3 content. Urbach’s energy, ΔE was also calculated from the optical absorption spectra and has an almost constant value. Additionally, these glasses render a semiconducting nature, confirmed by obtaining an almost constant value of the metallization criterion i.e. 0.35 for such glasses. The dielectric properties of these glasses were also investigated using impedance spectroscopy. With the increase of the Bi2O3 content, the dielectric constant increases whereas the dielectric loss decreases.