I have tried a lot of different bitless options, the indian bosal being one.
I've had mixed results. My horse doesn't like them; he'll let me ride in one and will turn and stop, however he will shake his head and try to scratch his nose on his leg I assume to loosen it. He is normally quite stoic so the behaviour is unusual.
A couple other horses I've ridden in one appeared to take to it just fine.
As Smrobs said, the release isn't instant which I don't like (this is helped by ensuring that instead of loops for the rope to pass through, there are metal rings). However, to know how your horse will react, you'd have to try it yourself! Thankfully they aren't expensive, or alternately, are very easy to make using the correct materials and instruction.
Best of luck.
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