Add bacon to a large skillet over medium heat. Cook until done. Remove bacon from skillet, coarsely chop and set aside. Discard all but 1 teaspoon of dripping in pan.
Add onion to drippings in pan and saute 5 minutes. Add cumin seed, paprika and salt; cook 30 seconds, stirring constantly to keep seeds from burning. Stir in beer, water and corn; bring to a boil. Reduce heat and simmer 10 minutes.
Remove from heat and stir in yogurt until smooth. Gradually add in cheese and stir until melted. Serve warm topped with chopped bacon and hot sauce, if desired.