I have just created a website and someone has pointed out that the domain name is similar to that of another website that does almost the same thing e.g. lets say they are betpay.com, I am betpaypoint.com. Could this other website make me change my domain name? Should I change the domain name now before the website really gets going (which will involve quite a bit of work and some expense).
Research the name if it isn't trademarked then I would stick with what I have. If the domain name has good keywords for your nitch keep it. Just make sure the company has no trademarks on "betpay" and IMO your gonna be just fine.