Preheat your oven to 350 degrees Fahrenheit. Spray a baking dish or baking sheet with cooking spray and set aside.
In a small skillet heat the olive oil over medium heat. Add onions and garlic and cook until onions are translucent, about 3 minutes.
In a large bowl, mix together the beef, breadcrumbs, egg, ketchup, Worcestershire sauce, liquid smoke (if using), salt, black pepper, and the onion-garlic mixture. Form into a loaf and set on the baking dish.
Top with the BBQ sauce and bake for 1 hour or until an instant-read thermometer registers 165 degrees Fahrenheit. Let stand for 5 minutes before slicing.