This issue can be caused by the outdated videocard drivers. Game renderer automatically changes game settings to Win Xp - compatible to prevent the error appearing.
You can download the latest drivers from the official websites:
- Nvidia drivers: http://www.nvidia.com/Download/index.aspx?
- ATI drivers: http://support.amd.com/us/gpudownload/Pages/index.aspx
It can also be caused by outdated DirectX version. Please, use this link for diagnostics
Also, please, try to enable Vsync option in the game launcher