I ran into this problem, even though I had the latest x64 for Java 8 JDK installed and the JAVA_HOME environment variable set.
For me, at least the first line of the error popup shows that it uses the Oracle symbolic link in C: \ ProgramData \ Oracle \ Java \ javapath to find the correct javaw.exe location. In my case, this actually pointed to the x86 assembly of the same version of the JRE, which I also installed for some reason.
I finished cleaning and uninstalled all versions of the JRE / JDK, and then reinstalled the latest x64 JDK. This has changed the symbolic links, and now it runs smoothly.
Most of the other answers should help solve the same problem, but for diagnostic purposes, if you already have x64 installed, it will probably help check C: \ ProgramData \ Oracle \ Java \ javapath.
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