Despite the comment by the reviewer this is NOT the first version of this film. The first was a silent film version made in 1920 starring John Barrymore and was far more sinister in his reasoning for splitting his soul.
He wanted to commit evil and not have to be held accountable later to God.
"Kid, don't threaten me. There are worse things than death, and I can do all of them."
Actually, the John Barrymore version of 1920 was not the first film adaptation of this story, either. If you examine the IMDb page for Robert Louis Stevenson, author of the novel, you'll find a half-dozen movie versions prior to 1920, some of which were released under different titles.
Incidentally, the 1912 version produced by the Thanhouser Company of New Rochelle, New York, stills exists and is available on DVD. It's probably the shortest adaptation, clocking in at around 10 minutes!