Verizon MiFi with Xbox?

Where I live, we have no phone line or cable. I have been looking for a new connection, as I play Xbox Live a lot and my current connection causes it to lag severely. I found this Verizon Wireless 4G LTE Mobile Hotspot MiFi (http://www.verizonwireless.com/b2c/store/controller?&item=phoneFirst&action=viewPhoneDetail&selectedPhoneId=5633) and I was wondering if this could be an acceptable connection for Xbox Live, YouTube videos, and being able to explore the Internet with ease.