Besides being a full external sound card with Dolby audio, the built-in controls allow you to adjust the balance and volume of game and chat audio, as well as having tons of connectivity potential and an easy-to-use companion app for customization. Keen gamers should look towards the Astro MixAmp Pro TR as well. One of Creative's other products, the Sound BlasterX G1 is still capable of delivering virtual surround sound, but in something that fits in a pocket and costs very little. Yesterday I bought this one: Trust 5.1 External Surround Sound Card, but had to return it after testing. There are also choices out there for more specific requirements and budgets worth attention. After searching a lot about 7.1/5.1 External USB Sound cards that are OS X compatible, I still haven't been able to find one that is (still) sold today. A top-quality DAC paired with 7.1 virtual surround sound all in a little box you can attach to your laptop is hard to ignore. Creative's Sound Blaster lineup has been delivering top class audio for decades, and the Sound BlasterX G6 is the current king of the hill. When it comes to PC sound cards there is one brand that always comes to mind.
The latest model has a much improved audio engine, you can get Dolby audio and with the companion app, you can customize your sound profiles to suit your own tastes. It's not particularly expensive, has lots of connectivity and flexibility, and will allow you control over your game and party audio balance.
If you're gaming on your laptop then the Astro MixAmp is the external soundcard to pair with it.