The first Closed Beta Test started in November 2011 in Korea and lasted a few days.
The second Closed Beta Test started in October 2012 in Korea and lasted a few days too.
Open Beta Tests started in November 2012 in Korea and lasted a few weeks.
The first Free to Play server opened in Korea in December 2012.
no official information yet about the European release, just some hints like http://source.cabal2.eu/cabal-2-coming-soon
The SEA (South East Asia) Region has his own publisher Asiasoft. Estimated release date Summer of 2015 in SEA.
Europe and other regions probably have to wait till 2014-15 to play the game.
Find out more: Release Date Discussion