I was going to ask same questions
Seriously?
Why? It isn't a rocket science to ask those questions.
After reading the OP and other replies I really liked how you put it. (Although there is still no answer from the OP, hope your questions will be answered.)
Also it isn't clear if everybody can see the same picture how say 20 people can play simultaneously?
It's called social gambling. You can find the same thing in bitdouble gambling site.
Thanks, I wasn't aware of that. I think I should check bitdouble at some point.
Plus, I didn't understand, although OP was trying to explain, why the house edge is 5%?
From what i understood 5% is fee he takes on each bet.
Yeah, that's right most likely, but why is it so huge? How can you attract players to your site if there are many others with much lower house edge?