English Meaning: The name Chance is an English baby name. In English the meaning of the name Chance is: Good luck; good fortune; chancellor. American Meaning: The name Chance is an American baby name. In American the meaning of the name Chance is: Good luck; good fortune; chancellor.French Meaning: The name Chance is a French baby name. In French the meaning of the name Chance is: Fortune; a gamble.n American the meaning of the name Chance is: Good luck; good fortune; chancellor. French Meaning: The name Chance is a French baby name. In French the meaning of the name Chance is: Fortune; a gamble.