I can nearly guarantee the cottage industry that is second-hand Magic cards is bigger than $200M.
I feel like Wizards is missing out not having a giant global store and interconnected app for all other stores to plug into and sell shit while Wizards takes a tiny % of each sale.
I remember spending a December in St. Paul some years ago, visiting the Mall of America on one really frigid night and stumbled into a Wizards of the Coast store… …I believe they went out of business a few months later. It was as large as any game store I can ever remember being in, and was filled with nothing but Magic, D&D, and related trinkets…
"Should the batman kill Joker because it would save more lives?" is a fundamentally different question from "should the batman have a bunch of machineguns that go BATBATBATBATBAT because its totally cool?". ~Goumindong
I can't imagine the expense of printing out cards is too much so 200 million in revenue is probably pretty great.
Also consider that drafts and other events are firing constantly in MTGO pretty much 24/7. These packs cost just as much as the real ones but are just digital product. Unless I'm missing something obvious Magic Online has got to be a huge cash cow for Wizards which has always made me even more bitter that it's so crappy in so many ways.
"Sometimes I think the surest sign that intelligent life exists elsewhere in the Universe is that none of it has tried to contact us."