In a medium saucepan, pour in the ketchup, apple cider vinegar, bourbon, maple syrup, and brown sugar. Add in Worcestershire sauce, mustard, smoked paprika, garlic powder, onion powder, black pepper, kosher salt, and the ½ cup of water. Stir everything together until well mixed.

Place the saucepan over medium heat. Stir continuously as the mixture begins to warm up. You want everything to fully combine and the sugar to dissolve completely into the sauce.

Once the sauce starts to bubble gently, reduce the heat to low. Let it simmer uncovered for about 15 to 20 minutes. Stir occasionally to prevent the sauce from sticking to the bottom or burning.

If the sauce looks too thick for your liking, add a tablespoon or two of water at a time until it reaches your desired thickness. If it’s too thin, continue simmering a little longer to reduce it.

Once the sauce has thickened and developed a rich, deep flavor, remove it from the heat and allow it to cool. Transfer the cooled sauce to a clean jar or airtight container and refrigerate. It will keep well for up to 2 weeks.