How do I turn my Mac into a Wi-Fi hotspot?

Surendra Ghanta May 8, 2012
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I have a wired internet connection at home and I am using it on my MacBook. How can I turn my MacBook into a Wi-Fi hotspot so that I can access the Internet on my phone and tablet?

Connectify, Bzeek and Virtual Router all work on Windows but not on Mac. Are there any such equivalents for Mac OS X?

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