Cryptologic
Pot Limit Omaha Ring game
Blinds: $1/$2
4 players
Converter

Stack sizes:
UTG: $198.82
Button: $229.74
SB: $96.11
Hero: $194

Pre-flop: (4 players) Hero is BB with 5 A J 5
UTG calls, Button folds, SB raises to $8, Hero calls, UTG calls.

Flop: Q 4 K ($24, 3 players)
SB checks, Hero checks, UTG checks.

Turn: 3 ($24, 3 players)
SB bets $10, Hero raises to $40

Honestly not a big fan. You're in a spot where you're in position, with a solid draw but no made hand. If you get played back at here, you can't call.
If the comes on the river, he'll probably check/fold, where if you just flat call him and miss, you can get away cheap. You can be pretty sure he's leading out any river so wait till you make your hand to get the money in, imo. Granted his flop check was weak, but there's still another player behind you to act.

agree with the smooth call, i don't mind button coming along for the ride, but i think his villains line here is pretty strong.

however, if i calculated correctly if villain shoves its about neutral ev to call if all our outs are live.

bud, again, pot control.

There are a lot of cards that will give you the nuts. Any diamond, T, or 2 will be a lock, and either of the remaining 5's are possible outs unless you're against KK/QQ. I doubt your opponent has that though or he wouldn't have checked the flop. He also would have have bet more than half the pot when the second diamond hit the turn. I doubt your opponent has a strong enough hand to reraise with here. The reraise may take it down. Very interested to see how the rest of the hand went down.

He folded like i wanted him to. Once he bet 10 and showd weakness all i wanted was the pot right there. I don't like going to showdown much , i want the pots right there. Maybe i should change that mentality as i am moving up limits. I am always choosing to see all cards before i fully commit myself or i try to take the pot right there.

I quite like your line because it looks like SB has a weak 2 pair and UTG is extremely unlikely to have a hand strong enough to call a bet and a raise. A good player should realise your raise is a big draw rather than a made hand given your check on the flop though. I don't mind just calling either. /shrug.