("bowl") is still often written as very few people (loanword pronunciation nazi types), actually pronounce the two differently. is pronounced by the rest of the nation.
(I never even knew that a sound like existed in this world until I started learning English in junior high school. I am sure you have heard Japanese-speakers pronounce "Oh, no!" as .)
One major reason that some prefer the spelling would be that is already reserved for "ball". The former would just look a bit cooler to certain people, but as native Japanese-speakers, we all know that to pronounce in 3 syllables is highly counterintuitive. It will simply make you stick out in the Japanese-speaking world.