AFAIK a Dolby/DTS stream is just a stream in a special format which contains the tracks/sounds, for example 5.1 or 7.1. So a Dolby stream in a movie contains 6 tracks, DTS has 8 tracks usually
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Games on the other hand have positional sound, generated by the game. So the game has sound for the various channels (left, center, right,...) generated from the games situation. It does not generate a Dolby or DTS stream, but sends these channels via Windows/DirectX to the sound card / sound chip. The game is able to probe if your speakers support stereo or 5.1, and generates positional audio depending on this information.
If you connect a loudspeaker/receiver system via optical link it would be necessary that your sound chip/card in the PC generates some kind of usable Dolby 5.1 signal. I don't think many chips/cards can do that. If you play a movie on the PC, the Dolby/DTS stream from the movie is routed directly to your receiver if you set it up correctly. But this stream already exists, it comes from the movie.
So - to have positional sound from a game IMO you need to connect your speaker system by 6 connections (analog) from the sound outputs your PC has. Then it works fine, it does on my system. I only use the simple sound chip on the MB, but it has 6 outputs and they are connected analog to my (Logitech) 5.1 speaker system. This works fine. My speaker system also supports DTS streams via optical, but I have to change the configuration for this, and then I have only stereo sound for games. Games do not generate Dolby or DTS streams.