Almost all modern laptops (if they have ‘Windows 7 compatible’ label) can be used as a Wi-Fi router
So you can use Internet on all your devices such as phones, tablets etc as soon as you get Internet on your laptop.
Here is a nice article how to do this.
Useful commands (should be run as administrator)
netsh wlan set hostednetwork mode=allow ssid=MyConnectionName key=MyPassword
netsh wlan start hostednetwork
I had the following issue with Windows 8.
The hosted network couldn’t be started.
The group or resource is not in the correct state to perform the requested operation.
When I installed Connectify tool it installed a driver which resolves the issue.
I could then uninstall the tool.