Quantum variational circuits have gained significant attention due to their applications in the quantum approximate optimization algorithm and quantum machine learning research. This work introduces a novel class of classical probabilistic circuits designed for generating approximate solutions to combinatorial optimization problems constructed using two-bit stochastic matrices. Through a numerical study, we investigate the performance of our proposed variational circuits in solving the Max-Cut problem on various graphs of increasing sizes. Our classical algorithm demonstrates improved performance for several graph types to the quantum approximate optimization algorithm. Our findings suggest that evaluating the performance of quantum variational circuits against variational circuits with sub-universal gate sets is a valuable benchmark for identifying areas where quantum variational circuits can excel.