Wrap a piece of the bacon around each hotdog and hold it in place with toothpicks. Refrigerate while the oil comes to temperature.
Heat the oil in a medium Dutch oven or deep-fryer until it reaches 350°F (175°C) on a deep-fry thermometer. Line a baking sheet with several layers of paper towels.
Fry the hot dogs, in batches, making sure to keep them totally submerged in the oil (