Answer by taking a quote from the following article:

You Bet Your Life is an American comedy quiz series that aired on both radio and television. The original and best-known version was hosted by Groucho Marx of the Marx Brothers, with announcer and assistant George Fenneman. The show debuted on ABC Radio on October 27, 1947, then moved to CBS Radio debuting October 5, 1949, before making the transition to NBC-TV and NBC Radio on October 4, 1950. Because of its simple format, it was possible to broadcast the show simultaneously on radio and television.

The mid-1940s was a lull in Groucho Marx's career. His radio show Blue Ribbon Town, sponsored by Pabst Blue Ribbon beer, had begun in March 1943 and had failed to catch on. Groucho left the program in June 1944, replaced by vocalist Kenny Baker until the show's end two months later. He also reluctantly appeared in two movies with brothers Chico and Harpo Marx, A Night in Casablanca and the lackluster Love Happy.  During a radio appearance with Bob Hope in March 1947, Marx ad-libbed most of his performance after being forced to stand by in a waiting room for 40 minutes before going live on the air. John Guedel, the Hope program's producer, formed an idea for a quiz show and approached Marx about the subject.  After initial reluctance by Marx, Guedel was able to convince him to host the program once Marx realized the quiz would be only a backdrop for his contestant interviews and the storm of ad-libbing that they would elicit. Guedel also convinced Marx to invest in 50% of the show, in part by saying that he was "untouchable" at ad-libbing, but not at following a script.  As Marx and the contestants were ad-libbing, he insisted that each show be filmed and edited before release to remove the risque or less interesting material. The show for the studio audience ran longer than the broadcast version. The president of Film Craft Productions, which did the filming, cited it as the first television show filmed before a live audience as part of a lengthy essay about production procedures.

Was anyone else involved besides Marx and Guedel?
The president of Film Craft Productions,