Like, this is how deals with devils work.
First deal "Ill do everything I can to remove your tadpole", when he knows he can't remove it but technically, he honours the deal. Second deal, i'll give you the hammer (which I have no use for and am 90% you cant use but if you can it'd get him the crown) and gives you a way to liberate Orpheus which if you've done L's storyline you really want to, but at a greater cost, ITS A DEAL WITH A DEVIL, why would you expect to get a fair shake out of it?
we wants the crown, and he wants you to give it,
As for telling you where it is, he's the ruler of a hell,he was tempting you by dangling it within reach, not expecting you to pull off the heist thats a classic bad guy thing
The problem with this theory, is 1, there is no first deal. Like he says, if you try to make a deal upfront in the first encounter he calls you desperate then runs off saying he wants to take advantage of you when you are scared and hopeless and need to come crawling to him.
2. It's not your standard "Devil Deal" sure he has something you want, but he doesn't have something you NEED. You hold all the cards in this negotiation.
He gains
- Ultimate Power for you risking your life, possibly killing your protection against the tadpole. Or that person killing you
You gain
- Possibly losing your GARUNTEED tadpole protection, Possibly getting killed by freeing Orpheus, by Orpheus with the hammer. Getting turned into a Mindflayer if Orhpeus runs off. The Loss of the Emperor as an ally The wrath of possibly every God ever for throwing the 9 hells out of balance, the wrath of every Devil and Demon in the 9 hells for throwing the hells out of balance. Maybe a smooch from Lae'zel.
Then he just straight up tells you "Lol I have the one thing that can free Orpho in my house." Which weakens his bargaining power ten fold because now you know where to get the hammer and that it is a hammer.
There is no reason to make this deal, nobody in their right mind would consider it, not to mention its not even a deal because you hold all of the power in this bargain, it's like if somebody tried to make a deal with you to trade you a theoretical inflatable raft while you were already sitting in a boat. You already have a boat!