In 2005, Chan became the first player to win ten World Series of Poker bracelets, defeating Phil Laak in a $2,500 Pot Limit Texas hold 'em event. He is currently tied with Doyle Brunson and Phil Ivey for second place with 10 World Series of Poker bracelets, behind Phil Hellmuth (15). He was inducted into the Poker Hall of Fame in 2002.