 Lakovič began his basketball coaching career in 2016, becoming an assistant coach for the senior Slovenian men's national team, working under the team's head coach, Igor Kokoškov, and started coaching at the EuroBasket 2017 qualification tournament.On 7 August 2017, Lakovič signed with the Spanish ACB League club Bilbao Basket as an assistant coach.On 30 April 2018, following the departure of Veljko Mršić, he took over the club as the head coach.