I'd raise the turn as well. Since he raised preflop and on the flop I'd put him on top pair at least. Reraising on the turn in that situation, after he's invested so much money into the pot, usually doesn't make an average/bad player fold when they have at least top pair with solid kicker. So by reraising on the turn, you still might win that 40k pot if he calls off his chips with TPTK or two pair. If he does fold, oh well. Still a nice pot. I'm not saying you played it wrong because you did have a solid read on the guy and went with it. You were right on with your read, just got really unlucky.
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