From FFG:
http://www.fantasyflightgames.com/edge_npm_sec.asp?eidm=14&esem=2Living Card Games
Since its introduction, the LCG® (Living Card Game®) format has come to be immensely successful for FFG, and sales continue their growth rate in both domestic and international markets. Fans around the world have enjoyed augmenting their LCG® core sets with our fixed 40-card monthly packs, and have experienced the strategy of deck building without the financial strain of random card packs. But how does this innovative format work? What can you expect from a Living Card Game®?
Excellent Value
A Core Set provides everything you need for a complete and self-contained game experience, but if you choose to go beyond the Core Set, monthly expansion packs provide fresh content at an easily affordable price. These monthly releases offer enough new content to keep the game immersive and strategic, while remaining accessible and digestible to casual players.
Constantly Expanding Card Pool
Monthly expansions provide more frequent additions to your card pool, with the potential of new deck types and strategies you can explore in every release. With monthly installments, the game is continuously updated and always feels fresh.
No Rare Chasing
LCGs® have no rare or promo cards that need to be chased. This ensures that games are determined by a player's deck building skills and play strategies, rather than who spent the most money in pursuit of hard-to-find ultra rare cards. The fixed format means that every player has equal access to every card needed to build his or her deck.
Easier to find Opponents
The non-random format makes it simple to play multiple LCGs™ without breaking the bank, dramatically increasing the chance to find opponents that play the same game you do. As each Core Set provides enough for at least two players, friends can begin playing right away.
Organized Play
Organized play programs are available for all LCGs®. These programs include everything from casual year-round leagues to premiere level tournaments featuring regional, national, and world championship level events.