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Betting on both teams (also called arbitrage betting or middling) can result in the bettor making a profit  regardless of the outcome  by placing one bet per each outcome (and with different betting companies). Again, the conditions must allow it.

Can You Make Money Betting on Both Teams? - Zensports

zensports : blog : can-you-make-money-betting-on-both-teams

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Bettors are far less likely to win parlay bets than individual bets, and sportsbooks make more money from parlay bets than individual bets. The odds on individual bets are calculated even to generate a small profit for the sportsbook. That gives gamblers a 50% chance of making a profit with standard bets.

Parlay Bet: What It Is and How It Works - Investopedia

investopedia : parlay-bet-5217711

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