Mix the Meatballs: In a large bowl, combine ground beef, breadcrumbs, egg, milk, garlic powder, onion powder, Worcestershire sauce, salt, and pepper. Mix until just combined.
Shape and Brown (Optional): Roll into meatballs, about 1 ½ inches in size. For extra flavor, sear them in a skillet with olive oil until browned on the outside.
Prepare the Slow Cooker: Add sliced onions and mushrooms to the bottom of your slow cooker. Place the meatballs on top.
Make the Sauce: In a bowl, whisk together beef broth, Worcestershire sauce, and ketchup. Pour over meatballs.
Cook: Cover and cook on low for 4–5 hours until meatballs are tender.
Thicken the Gravy: Stir in cornstarch slurry during the last 15 minutes of cooking. Stir gently and let the sauce thicken before serving.