i am using a creative sound blaster recon3d fatal1ty edition sound card and im trying to run an optical cable to either my xbox or tv to get sound out of my 5.1 sound system that is connected to the sound card
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Most of PC's sound cards can't decode dolby 5.1, so even if you were to get a sound card with toslink in, you'd have to run it in regular stereo anyway. You'll just do analog line in on your current sound card instead.
Yeah, soundcards lack the ability to decode Dolby/DTS streams that come in over optical. There simply isn't path from the optical input to the decoder module in the hardware.