First, it's going to depend on the specs of the laptop. If it's relatively low-spec then I reckon you'll struggle to play blu-ray.
For example, the Asus SBC-06D1S-U specifies you need AT LEAST a 3.4Ghz CPU, 1Gb or higher RAM and a NVIDIA GeForce 7600 GT or ATI X1600 series or above graphics card.
It's all about the CPU and graphics capability of the laptop, and since you don't say what the specs are, or the make/model, one cannot say if it's possible to do the blu-ray stuff.