The album was noted for marking a departure from Barber's established folk-pop style. On Chances, Barber instead works within a jazz style which was compared by fans to Doris Day and Peggy Lee.[2]
The album was recorded primarily at Blue Rodeo's Woodshed Studios in Toronto, with some string and horn arrangements recorded at the Glenn Gould Studio.[1] Three of the songs were co-written with Ron Sexsmith, and the album was produced by Toronto singer-songwriter Les Cooper.[1]