In 1988, he returned to his hometown Rethymno to play for EAR Rethymnou, before ending his career with Heraklion-based Poseidon, with whom he won his only title, the 1990–91 Delta Ethniki championship.
[2] Up next in 1997, Petrakis was hired by Heraklion-based club Irodotos, whom he promoted to the Gamma Ethniki, the third tier of the Greek football league system.
[1][4] In 2004, Petrakis left Crete for the first time in his career, taking over management of Arcadian club Asteras Tripoli, whom he also promoted to the Gamma Ethniki.
At the end of October however, Ergotelis began struggling, and as a result, the club's board of directors decided to replace Petrakis on 14 January 2014.
[4] Petrakis managed avoid relegation at the end of the season, and subsequently went on to secure a 6th-place finish in the 2014–15 and 2015–16, thus leading PAS Giannina to their first ever UEFA Europa League campaign.