Step 1: Prepare the Bourbon-Glazed Onions

1. Heat butter and olive oil in a skillet over medium heat.
2. Add sliced onions and cook until softened (about 10 minutes).
3. Stir in brown sugar and cook until onions begin to caramelize (another 10 minutes).
4. Pour in bourbon and let it reduce for a minute, then add balsamic vinegar.
5. Season with salt and pepper, stirring occasionally until onions are fully caramelized (about 5 more minutes).

Step 2: Make the Bourbon BBQ Sauce

1. In a saucepan, combine ketchup, bourbon, apple cider vinegar, brown sugar, Worcestershire sauce, Dijon mustard, smoked paprika, cayenne, salt, and pepper.
2. Stir well and let simmer over medium heat for 10-15 minutes until thickened.
3. Adjust seasoning as needed and remove from heat.

Step 3: Wrap & Grill the Hot Dogs

1. Wrap each hot dog tightly with a slice of bacon, securing with toothpicks if necessary.
2. Preheat the grill to medium heat (or use a grill pan).
3. Grill over indirect heat, turning frequently, until bacon is crispy and hot dogs are heated through (about 10 minutes).

Step 4: Toast the Buns & Assemble

1. Butter the inside of each bun and lightly toast on the grill.
2. Place the grilled bacon-wrapped hot dog in the toasted bun.
3. Top with bourbon-glazed onions and drizzle with bourbon BBQ sauce.
4. Add extra toppings like shredded cheese, pickled jalapeños, or crispy fried onions if desired.