Step 1: Heat olive oil in a large Dutch oven or heavy-bottomed pot over medium-high heat. Add ground beef and cook, breaking it up with a spoon, until browned. Drain off any excess fat and set the beef aside.
Step 2: Reduce heat to medium. Add chopped onion and green bell pepper to the pot and cook until softened, about 5-7 minutes. Add minced garlic and cook for another minute until fragrant.
Step 3: Stir in the chili powder, ground cumin, smoked paprika, dried oregano, and cayenne pepper (if using). Cook for 1-2 minutes, stirring constantly, to toast the spices and release their aroma.
Step 4: Return the browned ground beef to the pot. Add the diced tomatoes (undrained), crushed tomatoes, rinsed kidney beans, rinsed pinto beans, and beef broth. Stir well to combine all ingredients.
Step 5: Bring the chili to a simmer, then reduce heat to low, cover, and let it cook for at least 2 hours, stirring occasionally. The longer it simmers, the more the flavors will meld and deepen. For even richer flavor, let it simmer for 2.5 to 3 hours.
Step 6: After simmering, stir in the salt, black pepper, and brown sugar (if using). Taste and adjust seasonings as needed. The brown sugar helps to balance the acidity of the tomatoes and enhance the overall flavor profile of these chili recipes.
Step 7: Serve hot, garnished with fresh cilantro, shredded cheddar cheese, a dollop of sour cream, and chopped green onions. Enjoy your delicious homemade chili!