In 1975, at the age of 17, Petrakov began his career with his local team, FC Dynamo Bryansk. In 1976, he transferred to FC Lokomotiv Moscow where he would play for four seasons. He played for FC Torpedo Moscow from 1981–1985 and returned to Lokomotiv Moscow for one more season in 1986.
Immediately after retirement, he was appointed as manager for IFK Luleå, where he finished his playing career. In 1995, he returned to Russia to head another former club, Torpedo Moscow. While he did not win any championships at Torpedo, his clubs appeared in the UEFA Cup in 1996-1997 and 2000-2001. His club also appeared in the 1997 Intertoto Cup.