Petrakis began his coaching career in 1991 at
Asteras Perama. He took over
Ergotelis in 1992, before returning to
Asteras Perama in 1994. He then managed to also promote the amateur department of
OFI, OFI 94 to the
Delta Ethniki, and was manager from 2000 until 2002, when the club appointed him assistant to
OFI's head coach
Zdeněk Ščasný. In 2004, Petrakis left
Crete for the first time in his career, taking over management of
Arcadian club
Asteras Tripolis, whom he also promoted to the
Gamma Ethniki. He then returned to
Rethymno and led local club
Asteras Rethymno to the
Gamma Ethniki as well. Further contributing to the club's history, Petrakis managed to advance PAS Giannina to the
Third qualifying round of the competition, after eliminating
Norwegian club
Odd 4–3 on aggregate. He was a candidate for "Best Manager in Greece" for the 2015–2016 season but he didn't voted again. His contract was not renewed because PAS Giannina were relegated from
Super League. ==Honours==