The home side were unlucky not to take all three points at the Manuel Ruiz de Lopera after the ever-dangerous Joaquin gave the Seville club a 1-0 half-time lead.
The Spanish international struck home a superb volley from a rebound after Fernando's initial shot was saved by Real goalkeeper Iker Casillas.
Following the break, Betis continued to pressure their more illustrious opponents and it was Joaquin again who orchestrated many of their chances.
They should have doubled their lead when Joaquin crossed sublimely from the right to find an unmarked Juanito but he put his free header over the bar.
Betis would rue those missed chances as Los Galacticos would draw level when Zinedine Zidane played a lovely through-ball to Ronaldo in the home side's box.
With the onrushing Betis goalkeeper Pedro Contreras trying to close the Brazilian down, Ronaldo brilliantly side-stepped the custodian before finishing from a tight angle for 1-1.
Ivan Helguera and Santiago Solari both had chances late on to give Real an undeserved victory but Carlos Queiroz's men had to settle for a point in the end.
Deportivo La Coruna kept the pressure on Valencia and Real Madrid with a 4-1 thrashing of struggling Real Zaragoza.
It was the visitors who took the lead when David Miranda put Zaragoza in front after four minutes to stun the Riazor crowd.
However, Depor drew level when Diego Tristan equalised to take both sides into the break at 1-1.
Juan Carlos Valeron gave the home side the lead five minutes after half-time before Diego Tristan scored his second for 3-1 and Sergio completed the rout with a fourth six minutes from time.
Atletico Madrid remain fourth in the table following a 2-1 victory over Sevilla at the Vicente Calderon.
Fernando Torres gave Atletico a 1-0 lead at the break before Demis Nikolaidis doubled their lead in the second half.
The visitors made the final 15 minutes interesting after Jose Reyes pulled one back from the penalty spot for Sevilla but the home side held on for the three points.
Villarreal got two late second half goals from Rodolfo Arruabarrena and Sonny Anderson to defeat Malaga 2-0 at El Madrigal.
Osasuna missed the chance to move up in the table after coming from a goal down to draw 1-1 against struggling Albacete at El Sadar.
Laurent Viaud's fifth minute strike gave Albacete an early lead before John Aloisi equalised later in the first half, as both sides took a share of the points.
Mallorca were held to a 1-1 draw by Racing Santander at Son Moix, despite taking the lead two minutes after break through Gonzalo Colsa.
Racing earned a point when Mario Regueiro struck an equaliser with 16 minutes left in the match.
Finally, Real Sociedad continued their winning ways with an important 3-1 victory over struggling Espanyol at the Anoeta.
The Basque club built on their excellent 1-0 win against Real Madrid last weekend by taking a 1-0 half-time lead through a Valery Karpin penalty after six minutes.
They sealed the match in the last six minutes with goals from Igor Gabilondo and Nihat Kahveci before Jordi Cruyff scored a late consolation for the Barcelona-based club.
Later on Sunday, Real Madrid travel to play Real Betis at the Manuel Ruiz de Lopera.
Click below for match summaries:
Atletico Madrid 2-1 Sevilla
Deportivo La Coruna 4-1 Real Zaragoza
Mallorca 1-1 Racing Santander
Osasuna 1-1 Albacete
Real Betis 1-1 Real Madrid
Real Sociedad 3-1 Espanyol
Villarreal 2-0 Malaga
Click here for an updated Primera Liga table.
