Then press Ctrl+D to remove the selection and now select the Eraser Tool and a soft round brush (Opacity: 50%) to make a little clean work inside the sphere. Now your image should look as mine:

After that apply the Inner Shadow layer style to this layer:

The next step what we need to do to add glare to the sphere. Create a new layer, then select the Elliptical Marquee Tool and make selection as on picture below. Then activate the Gradient Tool and a white to transparent gradient, fill in the work area.

Press Ctrl+D to deselect chosen area and blur this glare a little bit with Blur Tool. Merge all layers to the layer with image (but don’t include it), then change layer mode for new layer to Hard Light and set opacity up to 70%.

To finish off the glass effect on image I think we should add a little shadow on the bottom of the sphere. Apply Select > Load Selection to make selection of chosen layer, then get out the Brush Tool and a soft round brush and draw a shadow with black color as on picture below:

After that merge all layer of sphere in one. Now I would bring some shadow from the magic sphere. For this effect duplicate layer with Ctrl+J and fill the previous letter with black color. Then transform this dark form with Ctrl+T like this:

To finish off this tutorial select the Eraser Tool and a soft round brush (Opacity: 50%, size of 200 pixels) and cut away upper part of shadow.

Final Result

Via : Magic Sphere Icon