Preheat the oven to 375°F (190°C) and lightly grease a 9x13 inch baking dish with non-stick spray.
Spread the frozen tater tots in a single, even layer at the bottom of the prepared baking dish.
Distribute the crumbled bacon evenly over the tater tot layer.
In a large mixing bowl, whisk together the eggs, milk, salt, pepper, garlic powder, and onion powder until the mixture is homogeneous.
Stir 1.5 cups of the shredded cheddar cheese into the egg mixture.
Pour the egg and cheese mixture evenly over the tater tots and bacon in the baking dish.
Place the dish in the oven and bake for 35 minutes.
Remove the dish from the oven and sprinkle the remaining 0.5 cups of cheddar cheese over the top.
Return the casserole to the oven and bake for an additional 10 minutes, or until the eggs are set and the cheese is melted and bubbling.
Allow the casserole to rest for 5-10 minutes before cutting and serving.