This puts them one game down in the best of three quarter-final series.
Lightning got off to a strong start scoring 48 in the first half compared to the Redbacks 37, having led by 17 at one stage.
The Redbacks then staged a strong comeback, as a result of tough defence, to establish a five-point lead midway through the last quarter.
The game then see-sawed and the lead changed four times in the last quarter, with Lightning steadying towards the end of the game through three successful three-point shots late in the game to secure the win.
Power-forward Michael Vigor top scored for the Redbacks with 21 along with 18 rebounds.
In his 200th game, Redbacks captain and point-guard Joel Wagner had 14 assists along with nine points and three steals.
Small-forward Bennie Lewis scored 18, had nine rebounds and two steals while point-guard Adam Johnson scored 12 along with six rebounds, two assists and two steals.
The Redbacks now have to win both of the remaining games against the Lightning to progress to the semi-final round. The second playoff game will be this Friday at 8.30pm at the Lakeside Recreation Centre, Bibra Drive, North Lake, with the third game also played there on Saturday at 8pm if required.