Form the Meatballs:
In a mixing bowl, combine ground beef, breadcrumbs, egg, garlic, onion powder, salt, pepper, and Worcestershire sauce. Mix until just combined and roll into 1½-inch meatballs.
Optional Browning Step:
For extra flavor, lightly brown the meatballs in a skillet over medium heat for 3–4 minutes before adding them to the Crockpot.
Caramelize the Onions:
In the same skillet, melt butter with olive oil. Add the sliced onions and cook slowly, stirring often, until soft and golden brown (about 15–20 minutes).
Prepare the Sauce:
Pour the caramelized onions into the Crockpot. Add beef broth, Worcestershire sauce, balsamic vinegar, and thyme. Stir to combine.
Slow Cook:
Gently place the meatballs into the Crockpot, spooning the onion mixture over them.
Cook on LOW for 5–6 hours or HIGH for 3 hours, until meatballs are tender and cooked through.
Add Cheese:
During the last 10 minutes of cooking, sprinkle shredded cheese over the top. Cover and cook until melted and bubbly.
Serve and Enjoy:
Garnish with fresh parsley and serve warm with mashed potatoes, egg noodles, or crusty bread.