This answer comes from Korean Grammar in Use: Advanced:

Both expressions can be replaced with each other, however the following difference is noted:

 

어/아도: Used when hypothetical meaning is relatively weak and the possibility of the statement becoming a reality is high

 

더라도: Used when the hypothetical meaning is relatively strong and the possibility of the statement becoming a reality is relatively low.

Basically, while both expressions can mean "even if", the chance that the situation preceding 더라도 will happen is relatively lower than that preceding 어/아도.

Here's an example:

• 저 학생이 완전 천재래. 지금 수업에 다 떨어져버리더라도 아직도 하바드를 입학할 수 있는 정도.. They say that guy's a genius. That, even if he fails all his classes, he'll still be able to go to Harvard.

The chance of a genius failing is low, but even if he does, he's too smart to not be accepted.

Hope this helps!

This answer comes from Korean Grammar in Use: Advanced:

Both expressions can be replaced with each other, however the following difference is noted:

어/아도: Used when hypothetical meaning is relatively weak and the possibility of the statement becoming a reality is high

더라도: Used when the hypothetical meaning is relatively strong and the possibility of the statement becoming a reality is relatively low.

Basically, while both expressions can mean "even if", the chance that the situation preceding 더라도 will happen is relatively lower than that preceding 어/아도.

Here's an example:

• 저 학생이 완전 천재래. 지금 수업에 다 떨어져버리더라도 아직도 하바드를 입학할 수 있는 정도.. They say that guy's a genius. That, even if he fails all his classes, he'll still be able to go to Harvard.

The chance of a genius failing is low, but even if he does, he's too smart to not be accepted.

Hope this helps!