RANDAO is a commit-reveal scheme for generating pseudo-random numbers in a decentralized fashion. The scheme is used in emerging blockchain systems as it is widely believed to provide randomness that is unpredictable and hard to manipulate by maliciously behaving nodes. However, RANDAO may still be susceptible to look-ahead attacks, in which an attacker (controlling a subset of nodes in the network) may attempt to pre-compute the outcomes of (possibly many) reveal strategies, and thus may bias the generated random number to his advantage. In this work, we formally evaluate resilience of RANDAO against such attacks. We first develop a probabilistic model in rewriting logic of RANDAO, and then apply statistical model checking and quantitative verification algorithms (using Maude and PVeStA) to analyze two different properties that provide different measures of bias that the attacker could potentially achieve using pre-computed strategies. We show through this analysis that unless the attacker is already controlling a sizable percentage of nodes while aggressively attempting to maximize control of the nodes selected to participate in the process, the expected achievable bias is quite limited.