Cincinnati Chili Dogs with Chocolate

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1 TBSP vegetable oil

1/2 cup chopped onion

2 pounds ground beef

1/4 cup chili powder

1 tsp. ground cinnamon

1 tsp. ground cumin

1/4 tsp. ground allspice

1/4 tsp. ground cloves

1 bay leaf

1/2 (1 ounce) square unsweetened chocolate

2 (10.5 ounce) cans beef broth

1 (15 ounce) can tomato sauce

2 TBSP cider vinegar

1/4 tsp. ground cayenne pepper

1/4 cup shredded Cheddar cheese