Combine ground beef, breadcrumbs, eggs, milk, minced onion, garlic, salt, pepper, and paprika in a large bowl. Mix gently with your hands until just combined—overworking creates dense, tough meatballs instead of light, fluffy ones that melt on your tongue.
Roll mixture into 24 golf-ball-sized portions using an ice cream scoop or your palms. This ensures even cooking so every easy beef cocktail meatballs party recipe bite reaches perfect doneness simultaneously without dry edges or raw centers.
Heat olive oil in a large skillet over medium-high heat until shimmering. Working in batches, brown meatballs on all sides for 8–10 minutes total, turning gently every 2–3 minutes until they develop a golden, caramelized exterior.
Remove browned party meatballs to a clean plate while you prepare the glaze. Whisk together beef broth, ketchup, Worcestershire sauce, and brown sugar in the same skillet, scraping up any flavorful browned bits stuck to the bottom.
Combine cornstarch and water in a small cup, stirring until smooth with no lumps. Pour this slurry into the simmering sauce while whisking constantly for 2–3 minutes until the glaze thickens and coats the back of a spoon.
Return all meatballs to the skillet, gently folding them into the thickened glaze until completely coated. Simmer for 3–5 minutes more to marry flavors together and ensure meatballs are heated through completely to 160°F internal temperature.