A Sarajevo native, Švrakić came through the youth set up of FK Sarajevo before signing his first professional contract in 1979, eventually inheriting the number 7 jersey previously worn by club legend Safet Sušić. In his first season, he took part in the club's runners-up league finish, even though he did not get much playing time, being overlooked by the coaching staff that preferred fielding more experienced footballers. With the departure of a vast array of players after the 1982-1983 season the club management decided to build a new team made up of youngsters tha came up through the club's youth department. Švrakić's skill helped the young team eventually win the Yugoslav First League in 1985, becoming the second FK Sarajevo outfit to do so. In 1987, he joined Turkish Süper Lig side Adana Demirspor whom he represented in the next two seasons, helping the team avoid relegation by scoring 42 goals in 86 matches. In the summer of 1989 he was acquired by Turkish powerhouse Galatasaray for a record 800,000 DEM, eventually going on to play for Ankaragücü and Karşıyaka, captaining the latter and thus becoming the second foreign-born captain in Süper Lig history. Švrakić spent two more seasons in the Maltese Premier League with Rabat Ajax before retiring in 1996 at the age of 36.
International career
He earned his first cap for Yugoslavia in 1983, coming on as a 70th-minute substitute in a friendly tie against West Germany, managing to find the back of the net on his debut. After being included in the Yugoslav Olympic national team roster for the 1984 Summer Olympics he had to withdraw after suffering a horrendous injury during a tour in Libya with FK Sarajevo. He earned three more caps for Yugoslavia. Between 1992 and 1994, during the Bosnian war, he represented Bosnia and Herzegovina internationally, even though the Bosnian FA was not officially recognized for most of his international tenure, and the team only contested humanitarian matches with the aim of garnering support and aid for the newly independent state.
Managerial career
Švrakić began his managerial career as interim player-manager at Rabat Ajax in 1994, eventually taking over the team and managing it for a further seven seasons. In The summer of 2002 Švrakić was appointed manager of Floriana whom he led for the next two seasons, after which he moved back to his native Bosnia and Herzegovina and lead the FK Sarajevo youth academy. In 2006, he was appointed manager of Kuwaiti club Al Jahra with whom he gained promotion to the top tier and reached the final of the Kuwait Crown Cup, eventually taking home the silver medal. In 2010, he was approached by Al Salmiya, and would go on to manage the team for a season. In 2012, he was appointed manager of Omantel Professional League team Al-Seeb which he kept in the top tier. In the summer of 2014 Švrakić was appointed manager of Omantel Professional League side Sur SC and led the side to a runners-up finish in his first season at the club. On 29 August 2016 Švrakić was named assistant manager of FK Sarajevo. On 21 August 2017 he took over the managerial position from Senad Repuh but only as a caretaker manager.