The house edge is only 1%. This is the lowest of any reputable Bitcoin gambling experience.

2. Can I play as soon as I deposit?

Yep. We accept 0 confirmation deposits.

3. Is there a minimum and maximum bet amount?

There is and never will be a minimum bet, we want to offer our experience to anyone regardless of their risk level or amount of Bitcoins.
However we currently have a maximum individual bet payout of 5 Bitcoins. This means that your bet*multiplier may not exceed 5 Bitcoins. This limit will slowly increase over time. 

You pick your odds!

http://primedice.com/index.php?aff=8C4ccFaedb81