Karabelas made his debut with his hometown's
Paniliakos in the
Beta Ethniki in 2004. Two years later he joined
Super League side
Aris, and quickly established himself as a starter for the
Yellows. On 28 January 2009 Karabelas missed a penalty in a 0–0 draw against fierce rivals
PAOK, which took Aris out of the
Greek Cup finals. He subsequently received threats from the club's fans, and left the club in the end of the season. On 10 June 2009 Karabelas signed a four-year deal with
AEK Athens. After struggling to find his form in his debut season under
Dušan Bajević, he appeared consistently in his second season, under
Manolo Jiménez, and was deemed "irreplaceable" by the latter. On 26 July 2012 Karabelas moved abroad for the first time in his career, by agreeing to a two-year deal with
La Liga side
Levante UD. He made his debut with the club on 19 August, starting and playing the full 90 minutes of a 1–1 home draw against
Atlético Madrid. Karabelas appeared in only nine matches during
the campaign, with the
Valencian side achieving a comfortable mid-table finish. In
his second season with the
Granotes, he was the most used left-back by manager
Joaquín Caparrós, overtaking veteran
Juanfran, and signed a new two-year deal on 20 March 2014. On 1 February 2016, after 3,5 years in
Levante UD, the Greek defender signed a six months contract with
Segunda División club
Real Valladolid. On 30 August 2016, the international left back signed a three-season contract with Aris and returned to the club after seven years. On 8 January 2017 he scored his first goal against
Panegialios. ==International career==