Karapetyan began his playing career in the German fourth-tier
Regionalliga with
Wehen Wiesbaden II,
FC Oberneuland,
SV 07 Elversberg and
FC 08 Homburg. In 2013, he moved to
F91 Dudelange of the
Luxembourg National Division, and then on to
CS Grevenmacher before returning to F91. At the end of the
2014–15 Luxembourg National Division, his contract expired and he considered offers from China and Armenia but opted to remain in Western Europe, having trials at Germany's
FC Erzgebirge Aue and
SSV Jahn Regensburg before signing for
FC Victoria Rosport in January 2016. In May 2017, he signed a two-year contract with the option of a third at
FC Progrès Niederkorn. On 12 July 2019, he signed a contract with
Russian Premier League newcomer
PFC Sochi. He left Sochi on 31 July 2020. On 3 August 2020, Karapetyan signed a two-year contract with
FC Tambov, also in Russia's top flight. On 9 February 2021, Karapetyan signed for Armenian champions
Ararat-Armenia. Karapetyan left Ararat-Armenia on 7 June 2021, signing for
Noah the following day. Karapetyan left Noah after his contract was terminated by mutual consent on 29 December 2021. On 2 September 2022, Karapetyan joined
Pyunik and then left the club at the end of 2022. In October 2023, Karapetyan scored four goals for
Kilikia in their
Armenian Cup first round victory over
Falcons. On 4 July 2025,
Meso-Nassau Wiesbaden announced the signing of Karapetyan. ==International career==