Born in 1957 in the city of Guangzhou, Chan was on the move for most of his early years. He lived in Guangzhou for five years before moving to Hong Kong. Soon after this, the family moved to Phoenix, Arizona. Five years after this, they settled in Texas and opened a chain of restaurants in the city. This posed a lot of problems to Chan as he had difficulty adapting to the different cultures and getting used to the various curricula.
He attended the University of Houston. However, he dropped out at the age of 21, without completing his bachelor’s degree to pursue his passion for poker.