Has Betelgeuse gone Supernova already?
How long will it tale light from there to reach Earth?
Will the explosion effect Earth in any way?
Betelgeuse is about 700 light years from Earth. That means that if it went supernova, it would take 700 years for the light from that explosion to arrive and been seen on Earth. Until that happens, we won't know if or if not the star has exploded.
I do not think that the star going supernova will affect Earth in any way.
-Wolf sends
As wolf has said, Betelgeuse is significantly far from Earth that if it suffered a core collapse (Type II) supernova and the "information" reached us, for arguments sake, tomorrow, the only impact on Earth would be the reaction of some charged particles interacting with the upper atmosphere, billions of trillion of neutrinoes passing harmlessly through us and the planet, and a bright light show in the sky that may be visible in daylight for many months but would certainly be the brightest object in the night sky, after the Moon, for 2-3 months until it faded.
The distance to Betelgeuse is hotly debated, some earlier Hipparchus estimates (satellite not the Greek) suggested it was only ~ 126 parsecs (~420 light years) away, other, later, estimates using radio astrometry coupled to the Hipparchus data now suggests the star is perhaps as far as 197 parsecs (~621 light years) away. The sad part is the the most precise distance measuring satellite launched, Gaia, cannot look at Betelgeuse because it is too bright and would damage the sensors. Some early estimates suggested that Betelgeuse is a lot close than thought, that its size is over estimated and this is causing a miscalculation. Even the Hipparchus data has farely substantial error bars in it that give distances of 108 parsecs to 151 parsecs (352ly to 492.25ly), however, the most accurate data suggested the figure already given and this is what was accepted. You will often see figures quoted in excess of 215 parsecs (700 light years), but this is from old data that is now accepted to be incorrect, with most scholors settling on the ~190 parsec (620 light year) distance.
As long as no supernova erupts within about 15 light years of the solar system then we are OK, and there are no stars within 130 lights years that are capable of any type of supernova eruption.
IK Pegasi is the closest star to Earth that is likely to erupt as a supernova, it is currently in the white dwarf phase so would be a type Ia, however, it is currently some 40 parsecs (130ly) from Earth, and due to orbital velocities around the galaxy, by the time it erupts, the solar system and it will be several thousand light years apart.