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Melt the butter in a large skillet over medium heat. Add the onions and cook until they are transparent, stirring frequently.
Add the flour; cook, stirring, until flour is well incorporated into the butter.
Transfer the onion mixture to the slow cooker. Add beef broth and hot sauce. Cook on low for 5 to 7 hours or on high for 3 to 4 hours.
Taste the soup and adjust the seasonings.
Ladle the soup into broiler-safe bowls. Top with bread and some of the shredded cheese. Broil until the cheese is bubbly and browned.